Crestwood Advisors Group LLC Boosts Stake in Amgen Inc. $AMGN

Crestwood Advisors Group LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 26.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,448 shares of the medical research company’s stock after acquiring an additional 2,796 shares during the period. Crestwood Advisors Group LLC’s holdings in Amgen were worth $3,795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new stake in Amgen during the 2nd quarter worth about $27,000. Evelyn Partners Investment Management LLP acquired a new stake in Amgen during the 2nd quarter worth $32,000. Howard Hughes Medical Institute acquired a new stake in Amgen during the 2nd quarter worth approximately $32,000. Quaker Wealth Management LLC increased its stake in Amgen by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after buying an additional 240 shares during the period. Finally, Cloud Capital Management LLC acquired a new stake in Amgen in the third quarter valued at about $34,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 1.1%

NASDAQ:AMGN opened at $373.36 on Wednesday. The business has a 50 day simple moving average of $339.62 and a 200 day simple moving average of $314.83. The firm has a market capitalization of $201.05 billion, a P/E ratio of 26.24, a P/E/G ratio of 3.78 and a beta of 0.46. The company has a debt-to-equity ratio of 5.78, a current ratio of 1.14 and a quick ratio of 0.90. Amgen Inc. has a 12-month low of $261.43 and a 12-month high of $385.12.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.53. The business had revenue of $9.87 billion during the quarter, compared to analyst estimates of $9.46 billion. Amgen had a return on equity of 148.37% and a net margin of 20.98%.The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $5.31 EPS. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. Equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be issued a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. Amgen’s dividend payout ratio is currently 70.84%.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Amgen from $318.00 to $319.00 and gave the company a “hold” rating in a research note on Thursday, January 8th. Cantor Fitzgerald lifted their target price on shares of Amgen from $315.00 to $350.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Citigroup lifted their price target on shares of Amgen from $315.00 to $345.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Amgen in a research note on Monday, December 29th. Finally, Wells Fargo & Company upped their target price on shares of Amgen from $300.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average price target of $354.04.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the transaction, the senior vice president owned 7,225 shares of the company’s stock, valued at approximately $2,436,703.50. This trade represents a 30.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is owned by company insiders.

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.