90,613 Amgen Inc. $AMGN Shares Sold by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors Inc. OH cut its Amgen stake by 98.9%, selling 90,613 shares during the third quarter and retaining 995 shares valued at approximately $419,000.
• Institutional ownership remains high at 76.5%, with major investors including State Street, BlackRock and Wellington increasing their positions. Amgen insiders, however, sold 6,222 shares worth about $2.54 million during the latest quarter.
• Analysts maintain an overall “Hold” rating with an average price target of $387.93, below the stock’s cited price of $432.49. Amgen recently exceeded quarterly earnings and revenue estimates and pays a $2.52 quarterly dividend, yielding about 2.3%.

Fort Washington Investment Advisors Inc. OH decreased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 98.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 995 shares of the medical research company's stock after selling 90,613 shares during the quarter. Fort Washington Investment Advisors Inc. OH's holdings in Amgen were worth $419,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp raised its holdings in shares of Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company's stock valued at $15,283,363,000 after acquiring an additional 11,656,755 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Amgen in the second quarter valued at approximately $1,831,903,000. Wellington Management Group LLP boosted its stake in shares of Amgen by 1,102.7% in the second quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company's stock worth $993,031,000 after acquiring an additional 2,514,254 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company's stock worth $17,874,974,000 after acquiring an additional 2,261,544 shares during the last quarter. Finally, Corient Private Wealth LP acquired a new stake in shares of Amgen in the second quarter worth approximately $187,401,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMGN shares. Robert W. Baird boosted their price target on Amgen from $215.00 to $230.00 and gave the stock an "underperform" rating in a research report on Wednesday, August 5th. Wall Street Zen lowered Amgen from a "buy" rating to a "hold" rating in a report on Saturday, October 10th. Bank of America lifted their target price on shares of Amgen from $312.00 to $317.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 5th. Barclays upped their target price on shares of Amgen from $360.00 to $380.00 and gave the stock an "equal weight" rating in a report on Friday, August 14th. Finally, Royal Bank Of Canada upped their target price on shares of Amgen from $400.00 to $430.00 and gave the stock an "outperform" rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of "Hold" and an average target price of $387.93.

Insider Activity

In other news, SVP Nancy A. 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 transaction of $1,194,415.20. Following the completion of the sale, 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 at this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 over the last quarter. 0.85% of the stock is currently owned by company insiders.

Amgen Price Performance

NASDAQ:AMGN opened at $432.49 on Friday. Amgen Inc. has a one year low of $288.00 and a one year high of $447.03. The stock has a market cap of $233.82 billion, a PE ratio of 26.88, a P/E/G ratio of 3.18 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The stock has a 50 day moving average price of $415.54 and a 200 day moving average price of $374.76.

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 business had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities research analysts expect that Amgen Inc. will post 22.94 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were issued a $2.52 dividend. This represents a $10.08 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, August 21st. Amgen's payout ratio is presently 62.65%.

Amgen Company Profile

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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