Amgen Inc. $AMGN Shares Sold by Allstate Corp

Key Points

• Allstate reduced its Amgen stake by 6.7% in the second quarter, selling 3,763 shares and retaining 52,252 shares valued at approximately $18.9 million. Institutional investors and hedge funds collectively own 76.5% of Amgen.
• Amgen reported stronger-than-expected quarterly results, with EPS of $6.29 versus a $5.62 consensus estimate and revenue of $10.05 billion, up 9.5% year over year. The company also declared a quarterly dividend of $2.52, equivalent to a 2.3% annualized yield.
• Analyst sentiment remains mixed: the consensus rating is Hold with an average price target of $380.43, while recent targets ranged from $317 to $452. Amgen shares opened at $439.33, near their 52-week high, and insiders have sold more than $2.5 million of stock over the past three months.

Allstate Corp reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 52,252 shares of the medical research company's stock after selling 3,763 shares during the period. Allstate Corp's holdings in Amgen were worth $18,921,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Dogwood Wealth Management LLC boosted its holdings in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after acquiring an additional 55 shares in the last quarter. Anfield Capital Management LLC raised its stake in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after buying an additional 70 shares in the last quarter. Tower View Wealth Management LLC lifted its holdings 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 buying an additional 63 shares during the period. Manning & Napier Advisors LLC lifted its holdings in shares of Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after buying an additional 32 shares during the period. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Amgen in the fourth quarter valued at approximately $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ AMGN opened at $439.33 on Monday. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $443.20. The company has a market capitalization of $237.51 billion, a P/E ratio of 27.30, a PEG ratio of 3.17 and a beta of 0.41. The business has a 50 day moving average price of $379.03 and a 200 day moving average price of $362.07. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN - Get Free Report) last issued 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 return on equity of 124.14% and a net margin of 22.95%.The firm had revenue of $10.05 billion during the quarter, compared to analysts' expectations of $9.43 billion. During the same period in the previous year, the firm posted $6.02 earnings per share. Amgen's revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Sell-side analysts expect that Amgen Inc. will post 22.92 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $2.52 dividend. The ex-dividend date is Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.3%. Amgen's payout ratio is currently 62.65%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction dated 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 transaction, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Rachna Khosla sold 1,252 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were 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 in the company, valued at $2,666,817.72. This trade represents a 16.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AMGN shares. Wells Fargo & Company upped their price objective on Amgen from $390.00 to $400.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 5th. Sanford C. Bernstein raised their target price on Amgen from $335.00 to $345.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. Cantor Fitzgerald boosted their target price on shares of Amgen from $350.00 to $400.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 18th. TD Cowen upped their price target on shares of Amgen from $420.00 to $452.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Bank of America increased their price target on shares of Amgen from $312.00 to $317.00 and gave the company an "underperform" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $380.43.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Solid operating performance and dividend support the valuation. Amgen’s second-quarter results exceeded expectations, with revenue rising year over year and earnings per share topping consensus. Continued growth and the company’s dividend are helping support investor confidence. Amgen stock holds close to record high as Q2 2026 growth and dividend support valuation
• Positive Sentiment: Analysts raised their outlook. Argus increased its price target to $460 from $375 while maintaining a Buy rating, citing the latest quarterly performance and progress across Amgen’s drug portfolio. Separate reports also highlighted favorable forecasts from Mizuho and Cantor Fitzgerald, reinforcing the bullish analyst sentiment. Amgen gets a fresh target
• Positive Sentiment: Tarlatamab development advanced. Amgen’s Phase 3 DeLLphi-315 study is evaluating a subcutaneous injection of tarlatamab against the current intravenous infusion approach in lung cancer. A successful shot formulation could improve convenience and broaden the commercial potential of the drug. Amgen advances tarlatamab shot versus infusion in Phase 3 lung cancer study
• Positive Sentiment: Trading momentum and options activity were unusually strong. Amgen was identified as a momentum stock after a substantial recent share-price rally, while call-option volume surged well above typical levels, suggesting increased bullish positioning.
• Neutral Sentiment: Valuation is becoming a consideration. With the stock near its recent high and analysts raising targets, some commentary questioned whether much of the favorable news is already reflected in the share price, which could limit near-term upside.

Amgen Company 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.

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