Wealthquest Corp Acquires Shares of 3,374 Amgen Inc. $AMGN

Key Points

• Wealthquest Corp opened a new position in Amgen during the fourth quarter, buying 3,374 shares valued at about $1.104 million.
• Amgen reported better-than-expected first-quarter 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 declared a $2.52 quarterly dividend payable June 5, while analysts currently rate the stock a consensus Hold with an average target price of $355.19.

Wealthquest Corp acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,374 shares of the medical research company's stock, valued at approximately $1,104,000.

A number of other hedge funds have also added to or reduced their stakes in AMGN. Anfield Capital Management LLC increased its position in Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after purchasing an additional 70 shares during the period. Dogwood Wealth Management LLC increased its position in Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after purchasing an additional 55 shares during the period. Board of the Pension Protection Fund purchased a new position in Amgen during the 4th quarter valued at $26,000. Manning & Napier Advisors LLC increased its position 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 purchased a new position in Amgen during the 4th quarter valued at $33,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amgen

In other 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 directly owned 7,009 shares of the company's stock, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by corporate insiders.

More Amgen News

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Erste Group Bank reissued a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. Wells Fargo & Company boosted their price objective on shares of Amgen from $375.00 to $390.00 and gave the company an "equal weight" rating in a research report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Amgen from $285.00 to $295.00 and gave the company a "hold" rating in a research report on Thursday, February 5th. Barclays assumed coverage on shares of Amgen in a research report on Friday, February 20th. They set an "equal weight" rating and a $350.00 price objective on the stock. Finally, Guggenheim reduced their target price on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $355.19.

Amgen Price Performance

NASDAQ:AMGN opened at $339.30 on Monday. The firm's 50-day moving average price is $345.10 and its 200-day moving average price is $344.72. The company has a market capitalization of $183.11 billion, a PE ratio of 23.61, a P/E/G ratio of 3.41 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 1.01. Amgen Inc. has a 1-year low of $267.83 and a 1-year high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts predict that Amgen Inc. will post 22.37 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be given a $2.52 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.0%. Amgen's dividend 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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