Worth Asset Management LLC Makes New $1.41 Million Investment in Amgen Inc. $AMGN

Key Points

• Worth Asset Management acquired 3,337 Amgen shares worth approximately $1.41 million during the third quarter. Institutional investors collectively own 76.5% of Amgen’s outstanding stock.
• Amgen reported quarterly earnings and revenue above analyst expectations, with revenue up 9.5% year over year. The company also pays a quarterly dividend of $2.52, equivalent to a 2.4% annual yield.
• Analyst sentiment remains mixed: Amgen has a consensus “Hold” rating and an average price target of $385.79, below its recent trading price near $413. Shares have risen 2.6% recently, while some analysts cited valuation and limited upside concerns.

Worth Asset Management LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,337 shares of the medical research company's stock, valued at approximately $1,407,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. increased its stake in Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company's stock valued at $17,874,974,000 after purchasing an additional 2,261,544 shares during the last quarter. State Street Corp boosted its stake in Amgen by 38.2% in the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company's stock worth $15,283,363,000 after buying an additional 11,656,755 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Amgen by 12.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company's stock valued at $1,952,156,000 after buying an additional 605,928 shares during the period. Bank of America Corp DE purchased a new stake in Amgen in the 2nd quarter valued at about $1,831,903,000. Finally, Invesco Ltd. increased its stake in shares of Amgen by 7.2% during the 4th quarter. Invesco Ltd. now owns 4,788,460 shares of the medical research company's stock valued at $1,567,311,000 after acquiring an additional 321,173 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported that its AMG 513 obesity-drug study completed Phase 1. The milestone provides an additional potential growth opportunity in the competitive weight-loss market, although clinical efficacy and safety data remain important next steps. Amgen AMG 513 obesity trial article
• Positive Sentiment: Scotiabank raised its price target for Amgen from $450 to $500, signaling greater confidence in the company’s upside potential and supporting sentiment around the stock. Scotiabank raises Amgen price target
• Neutral Sentiment: Truist raised its target from $362 to $380 but maintained a Hold rating. The revised target remains below the recent trading level, limiting the bullish impact of the increase.
• Neutral Sentiment: Cantor Fitzgerald reiterated a Neutral rating, while another report cited a $400 target. These views suggest analysts see limited near-term upside after Amgen’s strong run. Cantor Fitzgerald Amgen rating
• Neutral Sentiment: Amgen has become a heavily watched or “trending” stock on Zacks, which may increase trading attention but does not represent a fundamental change in the company’s outlook. Zacks Amgen trending stock article
• Negative Sentiment: Morgan Stanley lowered its target from $362 to $359 and retained an Equal Weight rating. The target implies substantial downside from current levels, reinforcing concerns that expectations and valuation may be elevated. Morgan Stanley Amgen price target report

Analysts Set New Price Targets

Several research analysts have recently weighed in on AMGN shares. Truist Financial increased their price objective on shares of Amgen from $362.00 to $380.00 and gave the stock a "hold" rating in a report on Wednesday. UBS Group reaffirmed a "buy" rating and set a $430.00 price target on shares of Amgen in a research report on Thursday, September 17th. Wells Fargo & Company increased their price target on shares of Amgen from $400.00 to $435.00 and gave the stock an "equal weight" rating in a research note on Friday, September 4th. Royal Bank Of Canada lifted their price target on shares of Amgen from $370.00 to $400.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Finally, Argus boosted their price objective on shares of Amgen from $375.00 to $460.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $385.79.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,252 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at $2,666,817.72. This represents a 16.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the sale, the senior vice president directly owned 7,340 shares of the company's stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 6,222 shares of company stock valued at $2,540,926. Insiders own 0.85% of the company's stock.

Amgen Trading Up 2.6%

Shares of AMGN stock traded up $10.41 during mid-day trading on Wednesday, reaching $413.01. The company's stock had a trading volume of 984,513 shares, compared to its average volume of 2,752,024. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The firm has a market capitalization of $223.29 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. The company's 50 day simple moving average is $411.44 and its 200-day simple moving average is $371.01. Amgen Inc. has a 12-month low of $288.00 and a 12-month high of $447.03.

Amgen (NASDAQ:AMGN - Get Free Report) last announced 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. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.05 billion during the quarter, compared to analysts' expectations of $9.43 billion. During the same period in the prior year, the company earned $6.02 EPS. The firm's revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, research analysts predict that Amgen Inc. will post 22.94 EPS for the current fiscal year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were given a $2.52 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.4%. Amgen's dividend payout ratio is presently 62.65%.

Amgen 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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