Mufg Securities Americas Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 9.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,256 shares of the medical research company’s stock after purchasing an additional 1,359 shares during the quarter. Mufg Securities Americas Inc.’s holdings in Amgen were worth $5,887,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Anfield Capital Management LLC boosted its stake in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after acquiring an additional 70 shares in the last quarter. Dogwood Wealth Management LLC grew its position in shares of 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 acquiring an additional 55 shares during the period. Tower View Wealth Management LLC increased its stake in shares of 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 purchasing an additional 63 shares in the last quarter. Manning & Napier Advisors LLC increased its stake in shares of Amgen by 49.2% in 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 in the last quarter. Finally, Evergreen Advisors LLC acquired a new position in Amgen in the 1st quarter worth about $37,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.
Amgen Trading Down 1.0%
AMGN stock opened at $432.42 on Friday. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $447.03. The business’s 50-day moving average is $388.64 and its 200 day moving average is $364.71. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The stock has a market cap of $233.78 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 3.16 and a beta of 0.41.
Amgen Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be issued a $2.52 dividend. The ex-dividend date is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.3%. Amgen’s dividend payout ratio (DPR) is presently 62.65%.
Amgen News Summary
Here are the key news stories impacting Amgen this week:
- Positive Sentiment: Tezspire expands its potential market. Amgen and AstraZeneca reported that Tezspire met both co-primary and all key secondary endpoints in the Phase 3 CROSSING study for eosinophilic esophagitis (EoE). Improvements in tissue inflammation and swallowing symptoms were statistically significant, clinically meaningful and sustained through 52 weeks. EoE could become Tezspire’s third approved indication, adding a potentially significant growth opportunity beyond asthma and chronic rhinosinusitis with nasal polyps. Tezspire Phase 3 EoE Results
- Positive Sentiment: Recent financial performance remains supportive. Amgen’s latest reported quarter exceeded analyst expectations for both earnings and revenue, with revenue increasing year over year. Strong results and full-year guidance have helped keep the stock near its 52-week high and provide a favorable backdrop for pipeline news. Amgen Earnings and Guidance
- Neutral Sentiment: Additional pipeline updates offer limited near-term valuation impact. Amgen provided updates on a pediatric psoriasis study involving apremilast and began a Phase 1 trial of AMG 691 aimed at markets in Asia. These programs may support long-term growth, but both remain too early to materially affect current earnings expectations. Amgen Pediatric Psoriasis Study
- Negative Sentiment: Amgen ended its Crohn’s disease research partnership with TScan Therapeutics. Terminating the collaboration removes an external source of potential inflammatory bowel disease assets and may raise questions about the company’s strategy in this research area. The impact is likely limited near term because the program was still focused on target discovery. Amgen Ends Crohn’s Research Partnership
Insider Buying and Selling at Amgen
In other news, SVP Rachna Khosla sold 1,252 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the sale, the senior vice president owned 6,404 shares of the company’s stock, valued at $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy A. 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 owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price target on Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Erste Group Bank restated a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Bank of America upped their target price on Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 5th. Cantor Fitzgerald increased their target price on Amgen from $350.00 to $400.00 and gave the company a “neutral” rating in a research report on Tuesday, August 18th. Finally, Daiwa Securities Group dropped their price target on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $380.43.
View Our Latest Stock Report on Amgen
About Amgen
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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