Amgen Inc. $AMGN Shares Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB reduced its Amgen stake by 30.7% in the third quarter, selling 5,983 shares and retaining 13,532 shares valued at approximately $5.7 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen insiders sold 6,222 shares worth about $2.54 million over the past three months, while insider ownership stands at just 0.85%.
• Amgen reported better-than-expected quarterly results, with adjusted EPS of $6.29 and revenue of $10.05 billion, up 9.5% year over year. The company pays a quarterly dividend of $2.52, equivalent to a 2.3% yield, although analysts’ consensus rating remains “Hold.”

E. Ohman J or Asset Management AB cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 30.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,532 shares of the medical research company's stock after selling 5,983 shares during the period. E. Ohman J or Asset Management AB's holdings in Amgen were worth $5,704,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AMGN. Woodward Diversified Capital LLC grew its stake in Amgen by 0.4% in the 3rd quarter. Woodward Diversified Capital LLC now owns 6,189 shares of the medical research company's stock valued at $2,609,000 after acquiring an additional 26 shares during the period. Lmcg Investments LLC boosted its position in Amgen by 3.1% during the third quarter. Lmcg Investments LLC now owns 37,026 shares of the medical research company's stock worth $15,607,000 after acquiring an additional 1,103 shares during the last quarter. Massachusetts Wealth Management grew its stake in Amgen by 6.7% during the 3rd quarter. Massachusetts Wealth Management now owns 6,772 shares of the medical research company's stock valued at $2,855,000 after acquiring an additional 425 shares in the last quarter. PFS Partners LLC boosted its holdings in shares of Amgen by 95.5% during the 3rd quarter. PFS Partners LLC now owns 86 shares of the medical research company's stock worth $36,000 after purchasing an additional 42 shares during the last quarter. Finally, White Lighthouse Investment Management Inc. lifted its position in Amgen by 3.9% during the third quarter. White Lighthouse Investment Management Inc. now owns 2,735 shares of the medical research company's stock worth $1,153,000 after buying an additional 102 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the company's stock in a transaction on Thursday, August 6th. The shares were 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 ownership of the stock. The sale 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 business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the sale, the senior vice president owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,222 shares of company stock valued at $2,540,926 over the last three months. Corporate insiders own 0.85% of the company's stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $447.28 on Friday. The stock has a market cap of $241.81 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 3.21 and a beta of 0.41. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The firm's fifty day simple moving average is $417.22 and its 200-day simple moving average is $377.39. Amgen Inc. has a fifty-two week low of $288.00 and a fifty-two week high of $450.98.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.05 billion for the quarter, compared to analysts' expectations of $9.43 billion. During the same period in the prior year, the company earned $6.02 EPS. The firm'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. Analysts expect that Amgen Inc. will post 22.94 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm 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 was Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.3%. Amgen's payout ratio is 62.65%.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Piper Sandler maintained a Buy rating and set a $457 price target, leaving additional upside from the stock’s latest 52-week high. Piper Sandler Remains a Buy on Amgen
• Positive Sentiment: Amgen reached a new 52-week high at $447.28, roughly 55% above its October lows, highlighting strong investor momentum and demand for the stock. Amgen Reaches a New 52-Week High
• Positive Sentiment: Amgen and AstraZeneca reported Phase III Tezspire data in eosinophilic esophagitis, a potential expansion opportunity for the drug and a catalyst for the companies’ respiratory-immunology portfolios. Amgen and AstraZeneca Report Phase III Tezspire Data
• Positive Sentiment: Recent fundamentals remain supportive: Amgen’s latest reported quarter exceeded analyst expectations for both earnings and revenue, with revenue increasing year over year. Its diversified oncology, rare-disease, and inflammation portfolio also provides a steadier cash-flow profile than some high-growth biotech peers.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial upped their price objective on Amgen from $362.00 to $380.00 and gave the company a "hold" rating in a report on Wednesday, October 7th. Mizuho raised their price objective on shares of Amgen from $303.00 to $352.00 and gave the company a "neutral" rating in a research note on Tuesday, August 18th. Scotiabank lifted their price objective on Amgen from $450.00 to $500.00 and gave the company an "outperform" rating in a research note on Monday, September 28th. Canaccord Genuity Group boosted their target price on shares of Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company lowered their price target on Amgen from $435.00 to $430.00 and set an "equal weight" rating for the company in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $388.64.

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company's products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.

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