Amgen Inc. $AMGN Shares Sold by Ferguson Wellman Capital Management Inc.

Key Points

• Ferguson Wellman Capital Management cut its Amgen stake by 22.6% in the second quarter, selling 72,166 shares and retaining 247,072 shares valued at approximately $89.5 million.
• Amgen exceeded quarterly expectations, reporting $6.29 in EPS and $10.05 billion in revenue, with revenue up 9.5% year over year. The company also declared a quarterly dividend of $2.52, equivalent to a 2.3% annual yield.
• Analyst sentiment remains mixed: Amgen has a consensus “Hold” rating and an average price target of $380.43, below its reported share price of $432.42, although several firms recently raised their targets.

Ferguson Wellman Capital Management Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 22.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 247,072 shares of the medical research company's stock after selling 72,166 shares during the period. Amgen accounts for 1.1% of Ferguson Wellman Capital Management Inc.'s portfolio, making the stock its 25th biggest holding. Ferguson Wellman Capital Management Inc.'s holdings in Amgen were worth $89,470,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Anfield Capital Management LLC lifted its stake in shares of Amgen by 1,000.0% in the 4th 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 increased its stake in shares of Amgen by 275.0% during 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 during the period. Tower View Wealth Management LLC raised its holdings in Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Manning & Napier Advisors LLC raised its holdings in 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, Evergreen Advisors LLC acquired a new stake in Amgen in the first quarter worth approximately $37,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $432.42 on Friday. The company's fifty day moving average is $388.64 and its two-hundred day moving average is $364.71. The company has a market cap of $233.78 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 3.16 and a beta of 0.41. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $447.03. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 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 business had revenue of $10.05 billion during the quarter, compared to analysts' expectations of $9.43 billion. During the same quarter last year, the firm posted $6.02 earnings per share. Amgen'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. Equities analysts expect that Amgen Inc. will post 22.92 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued 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 2.3%. Amgen's dividend payout ratio is currently 62.65%.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 7,340 shares of the company's stock, valued at $2,951,854.40. This represents a 28.81% 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. Also, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,222 shares of company stock valued at $2,540,926 over the last three months. 0.85% of the stock is owned by insiders.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Tezspire expands its potential market. Amgen and AstraZeneca reported that Tezspire met both co-primary and all key secondary endpoints in the Phase 3 CROSSING study for eosinophilic esophagitis (EoE). Improvements in tissue inflammation and swallowing symptoms were statistically significant, clinically meaningful and sustained through 52 weeks. EoE could become Tezspire’s third approved indication, adding a potentially significant growth opportunity beyond asthma and chronic rhinosinusitis with nasal polyps. Tezspire Phase 3 EoE Results
• Positive Sentiment: Recent financial performance remains supportive. Amgen’s latest reported quarter exceeded analyst expectations for both earnings and revenue, with revenue increasing year over year. Strong results and full-year guidance have helped keep the stock near its 52-week high and provide a favorable backdrop for pipeline news. Amgen Earnings and Guidance
• Neutral Sentiment: Additional pipeline updates offer limited near-term valuation impact. Amgen provided updates on a pediatric psoriasis study involving apremilast and began a Phase 1 trial of AMG 691 aimed at markets in Asia. These programs may support long-term growth, but both remain too early to materially affect current earnings expectations. Amgen Pediatric Psoriasis Study
• Negative Sentiment: Amgen ended its Crohn’s disease research partnership with TScan Therapeutics. Terminating the collaboration removes an external source of potential inflammatory bowel disease assets and may raise questions about the company’s strategy in this research area. The impact is likely limited near term because the program was still focused on target discovery. Amgen Ends Crohn’s Research Partnership

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMGN shares. Guggenheim boosted their price objective on Amgen from $343.00 to $388.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Freedom Capital raised Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Oppenheimer boosted their price target on shares of Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Cantor Fitzgerald upped their price target on shares of Amgen from $350.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, August 18th. Finally, Sanford C. Bernstein increased their target price 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. 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $380.43.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source