Turtle Creek Wealth Advisors LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 58.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp raised its position in shares of 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 period. Bank of America Corp DE acquired a new stake in Amgen during the 2nd quarter valued at approximately $1,831,903,000. Wellington Management Group LLP lifted its holdings in Amgen by 1,102.7% during the 2nd quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock worth $993,031,000 after buying an additional 2,514,254 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Amgen by 4.8% in the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after buying an additional 2,261,544 shares during the period. Finally, Corient Private Wealth LP bought a new position in Amgen during the 2nd quarter worth $187,401,000. 76.50% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on AMGN. Morgan Stanley reduced their price objective on shares of Amgen from $362.00 to $359.00 and set an “equal weight” rating for the company in a report on Wednesday, October 7th. Piper Sandler raised their price target on Amgen from $427.00 to $457.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. HSBC lowered shares of Amgen from a “buy” rating to a “hold” rating and cut their target price for the stock from $445.00 to $425.00 in a research report on Thursday, September 10th. Cantor Fitzgerald boosted their price objective on Amgen from $400.00 to $440.00 and gave the company a “neutral” rating in a research report on Monday, October 5th. Finally, Citigroup increased their price target on Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $387.93.
Check Out Our Latest Research Report on Amgen
Amgen Stock Performance
AMGN stock traded up $14.66 during midday trading on Thursday, reaching $440.77. 1,176,537 shares of the company were exchanged, compared to its average volume of 2,741,502. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. The business has a 50-day moving average price of $414.53 and a two-hundred day moving average price of $373.75. Amgen Inc. has a one year low of $288.00 and a one year high of $447.03. The firm has a market capitalization of $238.30 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 3.02 and a beta of 0.41.
Amgen (NASDAQ:AMGN – Get Free Report) last released its quarterly earnings data 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. The company had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. Amgen’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities research analysts forecast that Amgen Inc. will post 22.94 EPS for the current year.
Amgen Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were paid a $2.52 dividend. 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 dividend payout ratio is currently 62.65%.
Insider Buying and Selling at Amgen
In other news, SVP Nancy Grygiel sold 2,970 shares of the stock in a transaction dated 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 in the company, valued at approximately $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 accessible through this hyperlink. Also, SVP Rachna Khosla sold 1,252 shares of Amgen stock in a transaction that occurred 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 sale, the senior vice president directly owned 6,404 shares in the company, 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. Insiders sold 6,222 shares of company stock valued at $2,540,926 over the last three months. 0.85% of the stock is currently owned by insiders.
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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