Amgen Inc. $AMGN Shares Sold by CX Institutional

Key Points

• CX Institutional reduced its Amgen stake by 46.8% in the third quarter, selling 12,152 shares and retaining 13,833 shares valued at approximately $5.83 million.
• Amgen reported quarterly earnings of $6.29 per share and revenue of $10.05 billion, exceeding analyst expectations; revenue increased 9.5% year over year. The company also declared a $2.52 quarterly dividend, representing a 2.5% annualized yield.
• Amgen shares opened at $403.04, while analysts maintain a consensus “Hold” rating with an average price target of $385.25. Several insiders also sold shares, and institutional investors own 76.5% of the company.

CX Institutional cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 46.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,833 shares of the medical research company's stock after selling 12,152 shares during the period. CX Institutional's holdings in Amgen were worth $5,831,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AMGN. BlackRock Inc. raised its position in shares of Amgen by 4.8% in the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company's stock valued at $17,874,974,000 after buying an additional 2,261,544 shares in the last quarter. State Street Corp increased its position in Amgen by 38.2% during the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company's stock worth $15,283,363,000 after purchasing an additional 11,656,755 shares in the last quarter. Capital World Investors lifted its stake in shares of Amgen by 22.9% in the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock valued at $7,560,249,000 after acquiring an additional 4,302,237 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Amgen by 12.7% during the 2nd 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 acquiring an additional 605,928 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in Amgen in the 2nd quarter worth about $1,831,903,000. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $403.04 on Friday. The stock has a fifty day simple moving average of $410.72 and a two-hundred day simple moving average of $370.33. Amgen Inc. has a 1-year low of $288.00 and a 1-year high of $447.03. The firm has a market cap of $217.90 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 2.94 and a beta of 0.41. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.62 by $0.67. The company had revenue of $10.05 billion during 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%.During the same period in the previous year, the business earned $6.02 earnings per share. The firm's quarterly 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. Analysts anticipate that Amgen Inc. will post 22.94 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were given a dividend of $2.52 per share. The ex-dividend date was Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.5%. Amgen's dividend payout ratio (DPR) is presently 62.65%.

Insider Activity

In other news, SVP Nancy Grygiel sold 2,970 shares of the company's stock in a transaction dated 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 directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 6,222 shares of company stock valued at $2,540,926. Corporate insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

AMGN has been the topic of several research reports. Weiss Ratings upgraded Amgen from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 6th. Truist Financial raised their price objective on shares of Amgen from $340.00 to $362.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Canaccord Genuity Group lifted their target price on shares of Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. HSBC cut shares of Amgen from a "buy" rating to a "hold" rating and decreased their price target for the company from $445.00 to $425.00 in a research report on Thursday, September 10th. Finally, Oppenheimer reiterated an "outperform" rating on shares of Amgen in a report on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus target price of $385.25.

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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