Legato Capital Management LLC Acquires Shares of 8,328 Amgen Inc. $AMGN

Key Points

• Legato Capital Management initiated a new position in Amgen, buying 8,328 shares valued at about $2.73 million in the fourth quarter.
• Amgen reported better-than-expected quarterly results, with EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion, up 5.8% year over year.
• The company also announced a quarterly dividend of $2.52 per share, equal to a 3.0% yield, while analysts currently maintain a Hold consensus rating on the stock.

Legato Capital Management LLC bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,328 shares of the medical research company's stock, valued at approximately $2,726,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Anfield Capital Management LLC grew its holdings in Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after acquiring an additional 70 shares during the last quarter. Dogwood Wealth Management LLC boosted its holdings in shares of Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after purchasing an additional 55 shares during the period. Board of the Pension Protection Fund bought a new stake in shares of Amgen in the fourth quarter worth about $26,000. Manning & Napier Advisors LLC increased its holdings in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after purchasing an additional 32 shares during the period. Finally, Olistico Wealth LLC bought a new position in Amgen during the 4th quarter valued at approximately $33,000. 76.50% of the stock is currently owned by institutional investors.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen expanded its lung cancer pipeline by launching a phase 1b study testing a tarlatamab combination in small cell lung cancer, which could improve the company’s oncology growth prospects if the data are encouraging. Amgen Expands Lung Cancer Pipeline With New Tarlatamab Combo Study
• Positive Sentiment: Several reports highlighted Amgen as a long-term value/dividend and pipeline story, citing upside potential and analyst support such as an Overweight rating from Piper Sandler, reinforcing confidence in the company’s revenue growth outlook. Why Wall Street Thinks This Dividend Stock Could Jump 30%
• Positive Sentiment: Amgen shareholders reaffirmed the board, executive pay and auditors, which signals governance stability and removes a potential overhang. Amgen Shareholders Reaffirm Board, Pay and Auditors
• Neutral Sentiment: Amgen appointed Thomas Dittrich as chief financial officer, a management update that should be watched for any strategic or capital-allocation changes, but is not clearly a near-term stock catalyst. CFOs On the Move: Week ending May 22
• Negative Sentiment: Investor focus remains on safety concerns around Tavneos after reported patient deaths in Japan prompted restrictions on new prescriptions and raised the risk of withdrawal requests in the U.S., creating a potential earnings and sentiment headwind for Amgen. A Look At Amgen (AMGN) Valuation As Tavneos Safety Concerns And Withdrawal Requests Escalate
• Negative Sentiment: News that doctors in Japan could again prescribe Tavneos to new patients only partially eases concerns, because the drug still carries liver-injury warnings and the broader safety controversy may continue to pressure sentiment. Doctors in Japan can again prescribe an Amgen rare-disease drug to new patients, reversing a recommendation made only days ago following 20 deaths

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AMGN shares. Jefferies Financial Group started coverage on Amgen in a research report on Tuesday, March 10th. They issued a "hold" rating and a $350.00 price objective on the stock. TD Cowen restated a "buy" rating on shares of Amgen in a report on Wednesday, February 4th. Rothschild & Co Redburn lifted their price target on shares of Amgen from $180.00 to $200.00 and gave the company a "sell" rating in a report on Wednesday, February 18th. Erste Group Bank reissued a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $350.00 price objective on shares of Amgen in a report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $355.19.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the sale, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.85% of the company's stock.

Amgen Price Performance

Shares of AMGN stock opened at $339.30 on Friday. The business's fifty day moving average is $345.10 and its 200 day moving average is $344.38. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The stock has a market cap of $183.12 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 3.39 and a beta of 0.44. Amgen Inc. has a twelve month low of $267.83 and a twelve month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter last year, the firm posted $4.90 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts expect that Amgen Inc. will post 22.37 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be paid a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $10.08 annualized dividend and a yield of 3.0%. Amgen's payout ratio is presently 70.15%.

About Amgen

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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