USA Financial Formulas Makes New Investment in Amgen Inc. $AMGN

USA Financial Formulas acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,829 shares of the medical research company’s stock, valued at approximately $771,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Wellington Altus USA Inc. raised its holdings in Amgen by 72.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock worth $28,000 after purchasing an additional 34 shares during the period. Tower View Wealth Management LLC grew its holdings in Amgen by 331.6% during the first 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 during the period. Nvwm LLC grew its holdings in Amgen by 412.5% during the third quarter. Nvwm LLC now owns 82 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 66 shares during the period. Security National Bank of Sioux City Iowa IA bought a new stake in Amgen during the second quarter valued at about $36,000. Finally, Steph & Co. bought a new stake in Amgen during the third quarter valued at about $42,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the company’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 transaction, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 in the last three months. 0.85% of the stock is owned by corporate insiders.

Amgen Stock Down 0.4%

Shares of AMGN stock opened at $432.49 on Friday. The company has a market capitalization of $233.82 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 3.17 and a beta of 0.41. Amgen Inc. has a one year low of $288.00 and a one year high of $447.03. The company’s fifty day moving average price is $415.54 and its 200-day moving average price is $374.76. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

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

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 21st were paid a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 21st. Amgen’s dividend payout ratio (DPR) is 62.65%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Scotiabank upped their price target on Amgen from $450.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, September 28th. Citigroup lifted their price objective on Amgen from $345.00 to $405.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Argus boosted their price objective on Amgen from $375.00 to $460.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Piper Sandler boosted their price objective on Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Finally, Weiss Ratings raised shares of Amgen from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $387.93.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.