Providence First Trust Co Invests $519,000 in Amgen Inc. $AMGN

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Board of the Pension Protection Fund bought a new position in shares of Amgen during the fourth quarter worth about $26,000. Olistico Wealth LLC acquired a new stake in Amgen during the fourth quarter worth approximately $33,000. Cloud Capital Management LLC bought a new stake in Amgen during the third quarter worth $34,000. Ares Financial Consulting LLC bought a new stake in Amgen in the 4th quarter worth about $34,000. Finally, Saranac Partners Ltd purchased a new position in shares of Amgen in the 3rd quarter worth approximately $37,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is currently owned by company insiders.

Amgen Stock Performance

NASDAQ AMGN opened at $329.59 on Wednesday. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 0.90. Amgen Inc. has a 1 year low of $261.43 and a 1 year high of $391.29. The stock has a market capitalization of $177.87 billion, a PE ratio of 22.94, a P/E/G ratio of 3.08 and a beta of 0.44. The company’s 50 day simple moving average is $357.16 and its two-hundred day simple moving average is $341.35.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the previous year, the firm earned $4.90 earnings per share. Amgen’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. Analysts predict that Amgen Inc. will post 22.45 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

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

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 target price on shares of Amgen in a research note on Wednesday, April 8th. Piper Sandler increased their price target on Amgen from $381.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Freedom Capital lowered Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Daiwa Securities Group lifted their target price on shares of Amgen from $370.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 10th. Finally, Jefferies Financial Group began coverage on shares of Amgen in a research report on Tuesday, March 10th. They issued a “hold” rating and a $350.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Amgen presently 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.