NewEdge Wealth LLC Acquires 7,521 Shares of Amgen Inc. $AMGN

Key Points

• NewEdge Wealth LLC increased its Amgen stake by 5.6% in the fourth quarter, adding 7,521 shares to bring its total holding to 142,438 shares worth about $46.6 million.
• Amgen reported better-than-expected quarterly results, with EPS of $5.15 versus $4.77 estimated and revenue of $8.62 billion, up 5.8% year over year.
• The company also announced a quarterly dividend of $2.52 per share, implying an annualized yield of about 3.0%, while analysts currently have a consensus rating of Hold with an average price target of $357.12.

NewEdge Wealth LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 142,438 shares of the medical research company's stock after purchasing an additional 7,521 shares during the period. NewEdge Wealth LLC's holdings in Amgen were worth $46,621,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMGN. Capital World Investors raised its position in shares of Amgen by 11.5% in the third quarter. Capital World Investors now owns 18,795,474 shares of the medical research company's stock valued at $5,303,578,000 after purchasing an additional 1,935,876 shares during the period. Vanguard Group Inc. grew its holdings in Amgen by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock valued at $17,949,296,000 after buying an additional 961,975 shares in the last quarter. National Bank of Canada FI increased its position in Amgen by 237.7% during the 3rd quarter. National Bank of Canada FI now owns 1,226,372 shares of the medical research company's stock worth $346,076,000 after buying an additional 863,216 shares during the period. Van ECK Associates Corp boosted its position in shares of Amgen by 71.8% in the third quarter. Van ECK Associates Corp now owns 1,358,092 shares of the medical research company's stock valued at $383,254,000 after acquiring an additional 567,400 shares during the period. Finally, Fisher Asset Management LLC increased its position in Amgen by 91.6% during the third quarter. Fisher Asset Management LLC now owns 785,284 shares of the medical research company's stock worth $221,607,000 after acquiring an additional 375,463 shares during the period. Institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Leerink Partners restated a "market perform" rating and set a $355.00 target price on shares of Amgen in a research report on Thursday, March 5th. Piper Sandler increased their price target on Amgen from $381.00 to $432.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Rothschild & Co Redburn lifted their price objective on Amgen from $180.00 to $200.00 and gave the company a "sell" rating in a report on Wednesday, February 18th. Freedom Capital upgraded Amgen from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Finally, Truist Financial increased their price target on shares of Amgen from $325.00 to $327.00 and gave the stock a "hold" rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $357.12.

Insider Transactions at Amgen

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

Amgen Price Performance

AMGN stock opened at $331.70 on Friday. The stock has a market cap of $179.01 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 3.33 and a beta of 0.44. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 0.90. The company has a 50 day simple moving average of $355.12 and a 200 day simple moving average of $341.81. Amgen Inc. has a 1 year low of $261.43 and a 1 year high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts anticipate that Amgen Inc. will post 22.36 EPS for the current fiscal year.

Amgen Announces Dividend

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

Amgen Company Profile

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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