Rayburn West Financial Services LLC Acquires New Position in Amgen Inc. $AMGN

Key Points

• Rayburn West Financial Services opened a new position in Amgen during the fourth quarter, buying 8,879 shares valued at about $2.9 million. The stake represents roughly 1.8% of the firm’s holdings and is its 22nd-largest position.
• Amgen posted solid quarterly results, with EPS of $5.15 beating estimates and revenue of $8.62 billion slightly above expectations. Revenue rose 5.8% year over year, and the company reiterated strong full-year EPS guidance.
• The company also declared a quarterly dividend of $2.52 per share, payable June 5, implying a 3.0% annualized yield. Meanwhile, analysts currently have a consensus “Hold” rating with an average target price of $356.35.

Rayburn West Financial Services LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,879 shares of the medical research company's stock, valued at approximately $2,906,000. Amgen comprises approximately 1.8% of Rayburn West Financial Services LLC's holdings, making the stock its 22nd biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Brighton Jones LLC increased its holdings in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after buying an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Amgen by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock valued at $331,000 after acquiring an additional 114 shares during the period. Schnieders Capital Management LLC. boosted its stake in Amgen by 29.3% in the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock valued at $7,220,000 after acquiring an additional 5,853 shares during the period. Main Street Financial Solutions LLC boosted its stake in Amgen by 11.3% in the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock valued at $1,141,000 after acquiring an additional 416 shares during the period. Finally, Ieq Capital LLC boosted its stake in Amgen by 5.1% in the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock valued at $15,120,000 after acquiring an additional 2,611 shares during the period. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the sale, the senior vice president owned 7,009 shares of the company's stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their target price on Amgen from $375.00 to $390.00 and gave the company an "equal weight" rating in a research note on Thursday, March 19th. Citigroup lifted their target price on Amgen from $315.00 to $345.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. Piper Sandler lifted their target price on Amgen from $381.00 to $432.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Canaccord Genuity Group assumed coverage on Amgen in a research note on Monday, April 20th. They issued a "hold" rating and a $366.00 target price for the company. Finally, Truist Financial lifted their target price on Amgen from $325.00 to $327.00 and gave the company a "hold" rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $356.35.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $336.45 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The stock has a 50 day simple moving average of $351.05 and a 200-day simple moving average of $342.80. The company has a market cap of $181.58 billion, a PE ratio of 23.41, a P/E/G ratio of 3.38 and a beta of 0.44. Amgen Inc. has a 12-month low of $261.43 and a 12-month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $8.58 billion. During the same period in the previous year, the firm posted $4.90 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities research analysts forecast that Amgen Inc. will post 22.36 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be issued 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%.

Amgen 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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