2,546 Amgen Inc. $AMGN Shares Sold by Argent Capital Management LLC

Key Points

• Argent Capital Management reduced its Amgen position by 3.5%, selling 2,546 shares in the third quarter and retaining 69,486 shares valued at approximately $29.3 million.
• Analysts maintain a broadly mixed view, with Amgen carrying a consensus “Hold” rating and an average price target of $385.25, below its reported trading price of $403.06.
• Amgen reported strong quarterly results, earning $6.29 per share on $10.05 billion in revenue, while declaring a quarterly dividend of $2.52 per share, equivalent to a 2.5% annual yield.

Argent Capital Management LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,486 shares of the medical research company's stock after selling 2,546 shares during the quarter. Amgen comprises 0.2% of Argent Capital Management LLC's holdings, making the stock its 28th biggest position. Argent Capital Management LLC's holdings in Amgen were worth $29,289,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Rational Advisors Inc. boosted its holdings in Amgen by 13.7% in the 2nd quarter. Rational Advisors Inc. now owns 199 shares of the medical research company's stock valued at $72,000 after purchasing an additional 24 shares during the period. Beacon Financial Advisory LLC increased its holdings in shares of Amgen by 2.0% during the second quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company's stock worth $461,000 after purchasing an additional 25 shares during the period. Legacy Financial Advisors Inc. raised its position in shares of Amgen by 0.8% in the second quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company's stock valued at $1,234,000 after buying an additional 26 shares in the last quarter. Roman Butler Fullerton & Co. raised its position in shares of Amgen by 1.4% in the second quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company's stock valued at $705,000 after buying an additional 27 shares in the last quarter. Finally, Round Rock Advisors LLC increased its stake in Amgen by 2.9% during the 2nd quarter. Round Rock Advisors LLC now owns 1,003 shares of the medical research company's stock worth $363,000 after acquiring an additional 28 shares during the period. Institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on AMGN shares. Canaccord Genuity Group increased their target price on Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Argus upped their price target on shares of Amgen from $375.00 to $460.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Robert W. Baird increased their price target on shares of Amgen from $215.00 to $230.00 and gave the stock an "underperform" rating in a research report on Wednesday, August 5th. Citigroup lifted their price objective on shares of Amgen from $345.00 to $405.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Finally, Piper Sandler boosted their price target on Amgen from $427.00 to $457.00 and gave the stock an "overweight" rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $385.25.

Amgen Price Performance

Amgen stock traded up $0.03 during mid-day trading on Monday, reaching $403.06. The company had a trading volume of 822,305 shares, compared to its average volume of 2,752,964. The business has a fifty day simple moving average of $410.72 and a 200 day simple moving average of $370.36. The company has a market cap of $217.91 billion, a P/E ratio of 25.04, a P/E/G ratio of 2.91 and a beta of 0.41. Amgen Inc. has a fifty-two week low of $288.00 and a fifty-two week high of $447.03. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. The company had revenue of $10.05 billion during the quarter, compared to analysts' expectations of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.Amgen's revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities research analysts predict that Amgen Inc. will post 22.94 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, August 21st. Amgen's payout ratio is 62.65%.

Insider Activity at Amgen

In related news, SVP Nancy Grygiel sold 2,970 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were 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 owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,222 shares of company stock valued at $2,540,926 in the last ninety days. 0.85% of the stock is currently owned by insiders.

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen's portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.

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