Amgen Inc. $AMGN Shares Acquired by Wedmont Private Capital

Key Points

• Wedmont Private Capital increased its Amgen stake by 33.6% in the third quarter, purchasing 2,911 additional shares for a total holding of 11,577 shares valued at approximately $4.7 million.
• Amgen reported quarterly revenue of $10.05 billion and earnings of $6.29 per share, exceeding analyst expectations, while revenue grew 9.5% year over year. The company also pays an annualized dividend of $10.08 per share, yielding about 2.4%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $389.71 average price target. Shares recently traded at $416.67, while the company advances a Phase 3 monthly diabetes-treatment trial and other pipeline initiatives.

Wedmont Private Capital increased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 33.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,577 shares of the medical research company's stock after buying an additional 2,911 shares during the quarter. Wedmont Private Capital's holdings in Amgen were worth $4,717,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Amgen by 4.8% during the 2nd 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 period. State Street Corp raised its stake 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 purchasing an additional 11,656,755 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Amgen by 12.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company's stock valued at $1,952,156,000 after purchasing an additional 605,928 shares in the last quarter. Bank of America Corp DE acquired a new stake in Amgen in the second quarter worth about $1,831,903,000. Finally, Invesco Ltd. lifted its holdings in Amgen by 7.2% in the fourth quarter. Invesco Ltd. now owns 4,788,460 shares of the medical research company's stock worth $1,567,311,000 after purchasing an additional 321,173 shares during the period. Institutional investors own 76.50% of the company's stock.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: An analyst upgrade helped drive buying interest in Amgen, with reports indicating the stock rose about 3% following the rating change. Amgen Stock Price Up 3% on Analyst Upgrade
• Positive Sentiment: Cantor Fitzgerald raised its price target for AMGN from $400 to $440, signaling greater confidence in Amgen’s earnings outlook and pipeline prospects. The target increase is a notable bullish catalyst, though it still leaves limited upside if shares remain near recent levels. Cantor Fitzgerald Raises Amgen Price Target
• Positive Sentiment: Amgen announced a head-to-head Phase 3 trial of its monthly diabetes treatment against semaglutide. Success could give the company a significant opportunity in the competitive GLP-1 market and provide a longer-term growth catalyst. Amgen Diabetes Drug Phase 3 Trial
• Positive Sentiment: The company also reported results from a Sjögren’s syndrome trial and participated in a $30 million Series A investment in AI-based genetic testing, potentially strengthening its research and precision-medicine capabilities. Amgen AI Genetic Testing Investment
• Neutral Sentiment: Morgan Stanley maintained a Hold rating, while its price target was reduced slightly from $362 to $359. This provides a counterpoint to Cantor Fitzgerald’s bullish view and suggests analyst opinion remains divided. Morgan Stanley Hold Rating on Amgen

Amgen Price Performance

NASDAQ AMGN traded up $9.23 on Friday, reaching $416.67. The company's stock had a trading volume of 765,308 shares, compared to its average volume of 2,746,166. Amgen Inc. has a twelve month low of $288.00 and a twelve month high of $447.03. 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 market cap of $225.26 billion, a PE ratio of 25.87, a PEG ratio of 2.98 and a beta of 0.41. The firm's 50 day moving average is $412.35 and its two-hundred day moving average is $371.88.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were issued a $2.52 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.4%. Amgen's dividend payout ratio is currently 62.65%.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMGN shares. Truist Financial raised their target price on shares of Amgen from $362.00 to $380.00 and gave the company a "hold" rating in a research note on Wednesday. Piper Sandler increased their price objective on shares of Amgen from $427.00 to $457.00 and gave the company an "overweight" rating in a report on Thursday, August 20th. Sanford C. Bernstein raised their price objective on shares of Amgen from $335.00 to $345.00 and gave the company a "market perform" rating in a research note on Thursday, August 6th. Robert W. Baird boosted their target price on Amgen from $215.00 to $230.00 and gave the stock an "underperform" rating in a report on Wednesday, August 5th. Finally, Morgan Stanley cut their target price on Amgen from $362.00 to $359.00 and set an "equal weight" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $389.71.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction on 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 directly owned 6,404 shares of the company's stock, valued at $2,666,817.72. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Nancy Grygiel sold 2,970 shares of Amgen stock in a transaction on Thursday, August 6th. The stock was 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. The trade was a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,222 shares of company stock valued at $2,540,926 in the last quarter. Insiders own 0.85% of the company's stock.

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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