2,560 Amgen Inc. $AMGN Shares Sold by Generali Investments Management Co LLC

Key Points

• Generali Investments Management reduced its Amgen stake by 25.7%, selling 2,560 shares and retaining 7,406 shares valued at approximately $3.12 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported quarterly EPS of $6.29 and revenue of $10.05 billion, beating analyst estimates, while revenue increased 9.5% year over year. The company also pays a quarterly dividend of $2.52 per share, equivalent to a 2.3% yield.
• Analyst sentiment remains mixed: UBS raised its price target to $470 with a “buy” rating, but the overall consensus rating is “Hold”, with an average price target of $387.93.

Generali Investments Management Co LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 25.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,406 shares of the medical research company's stock after selling 2,560 shares during the quarter. Generali Investments Management Co LLC's holdings in Amgen were worth $3,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Altus USA Inc. grew its position in shares of Amgen by 72.3% during the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock worth $28,000 after buying an additional 34 shares during the period. Tower View Wealth Management LLC increased its stake in shares of Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after acquiring an additional 63 shares in the last quarter. Nvwm LLC lifted its position in shares of Amgen by 412.5% during the 3rd quarter. Nvwm LLC now owns 82 shares of the medical research company's stock valued at $35,000 after acquiring an additional 66 shares during the period. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Amgen during the 2nd quarter valued at $36,000. Finally, Evergreen Advisors LLC acquired a new position in shares of Amgen during the 1st quarter valued at $37,000. Institutional investors own 76.50% of the company's stock.

Insider Activity

In related news, SVP Nancy Grygiel sold 2,970 shares of the company's stock in a transaction dated 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 sale, the senior vice president 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 legal filing with the SEC, which is available at this link. Also, SVP Rachna Khosla sold 1,252 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the sale, the senior vice president owned 6,404 shares in the company, valued at $2,666,817.72. This represents a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is currently owned by insiders.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $432.49 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen Inc. has a twelve month low of $288.00 and a twelve month high of $447.03. The stock's 50 day moving average is $415.54 and its 200-day moving average is $374.94. The firm 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 (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping 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 return on equity of 124.14% and a net margin of 22.95%. Amgen's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Sell-side analysts forecast 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. Stockholders of record on Friday, August 21st were given a dividend of $2.52 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.3%. Amgen's payout ratio is presently 62.65%.

Analyst Ratings Changes

AMGN has been the topic of several research analyst reports. Wall Street Zen raised shares of Amgen from a "hold" rating to a "buy" rating in a research note on Sunday. Oppenheimer reaffirmed an "outperform" rating on shares of Amgen in a research note on Wednesday, September 23rd. UBS Group lifted their price target on shares of Amgen from $430.00 to $470.00 and gave the company a "buy" rating in a research note on Friday, October 9th. Jefferies Financial Group reiterated a "hold" rating and set a $410.00 price objective on shares of Amgen in a report on Wednesday, September 23rd. Finally, Cantor Fitzgerald increased their price objective on shares of Amgen from $400.00 to $440.00 and gave the stock a "neutral" rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $387.93.

About Amgen

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.

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