Amgen Inc. $AMGN Shares Sold by Asset Dedication LLC

Key Points

• Asset Dedication LLC reduced its Amgen holdings by 30.8% in the first quarter, selling 3,378 shares and retaining 7,594 shares worth about $2.67 million. Institutional investors and hedge funds collectively own 76.5% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $357. Barclays raised its target to $360 but maintained a Hold rating, while other firms issued targets ranging from $340 to $389.
• Amgen’s latest quarterly results exceeded expectations, with adjusted EPS of $5.15 and revenue of $8.62 billion, up 5.8% year over year. The company also declared a quarterly dividend of $2.52 per share, equivalent to an annualized yield of approximately 2.6%.

Asset Dedication LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 30.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,594 shares of the medical research company's stock after selling 3,378 shares during the quarter. Asset Dedication LLC's holdings in Amgen were worth $2,672,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Anfield Capital Management LLC raised its position in Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after acquiring an additional 70 shares during the period. Dogwood Wealth Management LLC grew its position 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 purchasing an additional 55 shares during the period. Tower View Wealth Management LLC grew its position in shares of Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after purchasing an additional 63 shares during the period. Manning & Napier Advisors LLC increased its stake in shares of Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Amgen during the fourth quarter worth about $34,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research reports. Barclays raised their price target on shares of Amgen from $350.00 to $360.00 and gave the company an "equal weight" rating in a research note on Wednesday. Weiss Ratings lowered Amgen from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, July 15th. Truist Financial increased their target price on Amgen from $327.00 to $340.00 and gave the company a "hold" rating in a report on Tuesday, July 7th. Freedom Capital upgraded Amgen from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group set a $389.00 price target on Amgen in a research note on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Amgen has a consensus rating of "Hold" and an average target price of $357.00.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: The European Medicines Agency’s CHMP issued a positive opinion recommending broader use of Repatha to reduce cardiovascular risk in high-risk adults without a prior heart attack or stroke. The recommendation, based on Phase 3 data showing fewer major cardiovascular events, could expand Repatha’s addressable market in Europe. Amgen Wins Backing in Europe for Broader Repatha Use
• Positive Sentiment: Amgen declared a quarterly dividend of $2.52 per share, payable September 11 to shareholders of record on August 21. The ongoing payout, equivalent to $10.08 annually and an indicated yield of about 2.6%, supports the stock’s income appeal and signals continued confidence in cash generation. Amgen Announces 2026 Third Quarter Dividend
• Positive Sentiment: Amgen launched its first Amgen Scholars Program in India at IIIT Hyderabad. Although not a near-term financial driver, the initiative may strengthen the company’s research talent pipeline and scientific relationships. First Amgen Scholars Program in India Launches
• Neutral Sentiment: Wall Street’s attention is centered on second-quarter results. Amgen has a history of earnings beats, but investors will scrutinize product-sales trends, guidance and progress on MariTide, making the report a significant near-term catalyst. Amgen Q2 Earnings Preview
• Negative Sentiment: Barclays raised its price target to $360 but retained a Hold rating. With the target below the recent trading level, the update reinforces concerns that much of Amgen’s positive outlook may already be reflected in the shares. Barclays Boosts Amgen Price Target

Amgen Stock Performance

AMGN opened at $385.16 on Friday. The firm has a market capitalization of $207.87 billion, a PE ratio of 26.80, a PEG ratio of 3.90 and a beta of 0.41. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $398.00. The firm's 50-day moving average price is $356.60 and its 200 day moving average price is $353.77. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the firm earned $4.90 EPS. Amgen's quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Amgen Inc. will post 22.31 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.6%. Amgen's dividend payout ratio is 70.15%.

Amgen 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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