Turtle Creek Wealth Advisors LLC Purchases 5,720 Shares of Amgen Inc. $AMGN

Key Points

• Turtle Creek Wealth Advisors increased its Amgen stake by 58.9% in the third quarter, acquiring 5,720 additional shares for a total holding of 15,429 shares valued at approximately $6.5 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported quarterly earnings of $6.29 per share, exceeding estimates of $5.62, while revenue rose 9.5% year over year to $10.05 billion. The company also maintains a quarterly dividend of $2.52, equivalent to a 2.3% annual yield.
• Amgen shares recently traded at $440.77, near their 52-week high, but analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $387.93. Meanwhile, insiders sold 6,222 shares worth roughly $2.54 million over the past 90 days.

Turtle Creek Wealth Advisors LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 58.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,429 shares of the medical research company's stock after acquiring an additional 5,720 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in Amgen were worth $6,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Wellington Altus USA Inc. raised its stake in Amgen by 72.3% during the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock valued at $28,000 after purchasing an additional 34 shares during the last quarter. Tower View Wealth Management LLC increased its position in Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after acquiring an additional 63 shares in the last quarter. Nvwm LLC boosted its holdings in Amgen by 412.5% in the third quarter. Nvwm LLC now owns 82 shares of the medical research company's stock valued at $35,000 after acquiring an additional 66 shares during the last quarter. Security National Bank of Sioux City Iowa IA bought a new position in shares of Amgen in the 2nd quarter worth $36,000. Finally, Evergreen Advisors LLC acquired a new stake in Amgen during the 1st quarter worth $37,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Insiders Place Their Bets

In related news, SVP Nancy Grygiel sold 2,970 shares of the business'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 owned 7,340 shares in the company, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the transaction, the senior vice president directly owned 6,404 shares of the company's stock, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by company insiders.

Amgen Stock Up 3.4%

Shares of AMGN traded up $14.66 on Thursday, hitting $440.77. 1,176,537 shares of the stock traded hands, compared to its average volume of 2,741,502. The company has a market capitalization of $238.30 billion, a PE ratio of 27.37, a P/E/G ratio of 3.02 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen Inc. has a one year low of $288.00 and a one year high of $447.03. The business has a 50 day simple moving average of $414.53 and a 200 day simple moving average of $373.75.

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

Amgen Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Amgen from $362.00 to $359.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 7th. Barclays increased their price target on Amgen from $360.00 to $380.00 and gave the company an "equal weight" rating in a research note on Friday, August 14th. Wall Street Zen downgraded shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, October 10th. Robert W. Baird boosted their price target on shares of Amgen from $215.00 to $230.00 and gave the stock an "underperform" rating in a report on Wednesday, August 5th. Finally, Truist Financial increased their price target on Amgen from $362.00 to $380.00 and gave the stock a "hold" rating 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 assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of "Hold" and a consensus price target of $387.93.

About Amgen

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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