Triasima Portfolio Management inc. Purchases 3,280 Shares of Amgen Inc. $AMGN

Key Points

• Triasima Portfolio Management purchased 3,280 Amgen shares worth approximately $1.38 million in the third quarter, while institutional investors collectively own 76.5% of the company.
• Amgen reported quarterly earnings of $6.29 per share and revenue of $10.05 billion, exceeding analyst expectations; revenue increased 9.5% year over year. The company also pays a $2.52 quarterly dividend, equating to a 2.3% yield.
• AMGN shares opened at $434.03, near their 52-week high, but analyst sentiment remains mixed with a consensus “Hold” rating and a $387.93 target price. Recent insider activity was predominantly selling, adding to valuation concerns.

Triasima Portfolio Management inc. purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,280 shares of the medical research company's stock, valued at approximately $1,383,000.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of Amgen by 702.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,535,257 shares of the medical research company's stock valued at $647,126,000 after buying an additional 1,344,010 shares during the last quarter. Mystic Asset Management Inc. boosted its position in shares of Amgen by 6.9% during the third quarter. Mystic Asset Management Inc. now owns 1,373 shares of the medical research company's stock worth $579,000 after buying an additional 89 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Amgen by 32.5% during the third quarter. State of Alaska Department of Revenue now owns 83,227 shares of the medical research company's stock worth $35,081,000 after buying an additional 20,421 shares during the period. Charles Schwab Trust Co boosted its position in shares of Amgen by 2.1% during the third quarter. Charles Schwab Trust Co now owns 7,623 shares of the medical research company's stock worth $3,213,000 after buying an additional 159 shares during the period. Finally, Turtle Creek Wealth Advisors LLC grew its holdings in Amgen by 58.9% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 15,429 shares of the medical research company's stock worth $6,503,000 after buying an additional 5,720 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the sale, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is owned by corporate insiders.

Amgen Stock Up 1.9%

AMGN stock opened at $434.03 on Friday. Amgen Inc. has a 52 week low of $288.00 and a 52 week high of $447.03. The company has a market capitalization of $234.65 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 3.12 and a beta of 0.41. The firm's 50-day moving average is $415.11 and its two-hundred day moving average is $374.35. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping analysts' consensus estimates of $5.62 by $0.67. The company had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, analysts forecast that Amgen Inc. will post 22.94 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 21st were issued a dividend of $2.52 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.3%. Amgen's payout ratio is presently 62.65%.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen and AstraZeneca reported positive Phase 3 results for Tezspire in eosinophilic esophagitis. Nearly 70% of patients receiving the higher dose achieved remission after 24 weeks, potentially expanding the drug’s addressable market in a condition with limited treatment options. What Could Amgen 70% Remission Trial Result Mean For Its Pipeline?
• Positive Sentiment: UBS raised its price target for AMGN to $470, signaling greater confidence in the company’s outlook and supporting investor sentiment. UBS raises target for Amgen stock to USD 470.00
• Positive Sentiment: Investors are focusing on Amgen’s broader pipeline, including the MariTide obesity program, planned Phase 3 diabetes studies and recent regulatory momentum. These programs offer potential long-term growth beyond Amgen’s established products. Amgen Gains as Investors Appear to Lean on Pipeline and Regulatory Momentum
• Positive Sentiment: Erste Group Bank increased its FY2027 EPS forecast to $24.66 from $24.36, adding to evidence that some analysts see improving earnings potential.
• Positive Sentiment: A broader rotation away from technology stocks toward defensive and consumer-oriented companies may be helping support sentiment toward large pharmaceutical stocks.
• Neutral Sentiment: Amgen’s dividend yield is approximately 2.3%. Its dividend-growth prospects are being compared favorably with Merck’s because of Amgen’s reported cash-flow cushion, although the analysis does not represent a new dividend announcement. AMGN vs. MRK: Which Pharma Giant's Dividend Actually Has Room to Grow
• Negative Sentiment: Risks remain: Bank of America Securities maintained a Sell rating, while recent insider activity showed seven sales and no purchases over six months. Some previously published analyst targets also remain well below the current trading range, highlighting valuation concerns. Bank of America Securities Remains a Sell on Amgen

Wall Street Analyst Weigh In

Several analysts recently commented on AMGN shares. Wells Fargo & Company lowered their target price on Amgen from $435.00 to $430.00 and set an "equal weight" rating on the stock in a research report on Monday. Weiss Ratings raised Amgen from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Oppenheimer reiterated an "outperform" rating on shares of Amgen in a research report on Wednesday, September 23rd. Canaccord Genuity Group increased their price target on Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley decreased their price target on Amgen from $362.00 to $359.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $387.93.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen's portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.

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