Providence First Trust Co Acquires Shares of 1,585 Amgen Inc. $AMGN

Providence First Trust Co purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,585 shares of the medical research company’s stock, valued at approximately $519,000.

A number of other institutional investors have also made changes to their positions in the business. Board of the Pension Protection Fund acquired a new stake in Amgen in the 4th quarter valued at about $26,000. Olistico Wealth LLC bought a new stake in shares of Amgen during the fourth quarter valued at approximately $33,000. Cloud Capital Management LLC bought a new position in Amgen in the 3rd quarter worth approximately $34,000. Ares Financial Consulting LLC acquired a new position in Amgen during the 4th quarter worth $34,000. Finally, Saranac Partners Ltd bought a new position in Amgen in the 3rd quarter valued at $37,000. 76.50% of the stock is owned by institutional investors.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen announced a $300 million additional U.S. manufacturing investment (Puerto Rico) to expand biologics capacity and strengthen supply-chain resilience; investors tend to see such capital spending as supportive of long-term growth and reliability. Article Title
• Neutral Sentiment: Erste Group reaffirmed a “hold” rating on AMGN, signaling no change in near-term analyst conviction and limiting directional impact from that broker. Article Title
• Neutral Sentiment: Market/sector headwinds: healthcare stocks were softer in recent trading sessions, a background factor that can mute upside for AMGN even as company-specific news emerges. Article Title
• Negative Sentiment: Competitive risk: Viridian Therapeutics reported encouraging results for its chronic thyroid eye disease program, a potential rival to Amgen’s Tepezza — the data lifted Viridian shares and raises the probability of increased market competition for Tepezza sales over time. Article Title
• Negative Sentiment: Guggenheim trimmed its price target on AMGN to $340 (from $351) while keeping a Neutral rating — a modest lowering of upside that can cap near-term analyst-driven buying. Article Title

Amgen Stock Up 1.8%

AMGN opened at $329.59 on Wednesday. The stock has a fifty day moving average of $357.16 and a 200-day moving average of $341.35. The company has a market capitalization of $177.87 billion, a P/E ratio of 22.94, a P/E/G ratio of 3.08 and a beta of 0.44. Amgen Inc. has a fifty-two week low of $261.43 and a fifty-two week high of $391.29. The company has a debt-to-equity ratio of 5.65, a quick ratio of 0.90 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.58 billion. During the same quarter in the previous year, the company earned $4.90 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts expect that Amgen Inc. will post 22.45 EPS for the current year.

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, May 15th. Amgen’s dividend payout ratio is 70.15%.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the transaction, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Guggenheim cut their price target on Amgen from $351.00 to $340.00 and set a “neutral” rating on the stock in a research note on Monday. Morgan Stanley set a $332.00 price objective on shares of Amgen in a research note on Friday. Deutsche Bank Aktiengesellschaft increased their price target on Amgen from $285.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Sanford C. Bernstein lowered shares of Amgen from an “outperform” rating to a “market perform” rating and set a $335.00 target price on the stock. in a report on Tuesday, January 20th. Finally, Leerink Partners reissued a “market perform” rating and set a $355.00 price target on shares of Amgen in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $357.12.

Amgen 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.