Amgen Inc. $AMGN Shares Sold by Foster Victor Wealth Advisors LLC

Key Points

• Foster Victor Wealth Advisors reduced its Amgen stake by 7.4% in the third quarter, selling 4,817 shares and retaining 59,878 shares valued at approximately $25.4 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported quarterly results above expectations, with EPS of $6.29 versus the $5.62 consensus and revenue of $10.05 billion versus $9.43 billion expected; revenue increased 9.5% year over year.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $388.64, while Amgen’s stock recently traded near its 52-week high. The company also pays a quarterly dividend of $2.52, yielding about 2.3% annually.

Foster Victor Wealth Advisors LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,878 shares of the medical research company's stock after selling 4,817 shares during the period. Amgen makes up 1.1% of Foster Victor Wealth Advisors LLC's portfolio, making the stock its 19th largest holding. Foster Victor Wealth Advisors LLC's holdings in Amgen were worth $25,445,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Wealth Management lifted its stake in shares of Amgen by 6.7% during the 3rd quarter. Massachusetts Wealth Management now owns 6,772 shares of the medical research company's stock worth $2,855,000 after acquiring an additional 425 shares during the last quarter. PFS Partners LLC grew its position in Amgen by 95.5% in the 3rd quarter. PFS Partners LLC now owns 86 shares of the medical research company's stock valued at $36,000 after acquiring an additional 42 shares during the last quarter. White Lighthouse Investment Management Inc. grew its position in Amgen by 3.9% in the 3rd quarter. White Lighthouse Investment Management Inc. now owns 2,735 shares of the medical research company's stock valued at $1,153,000 after acquiring an additional 102 shares during the last quarter. Trifecta Capital Advisors LLC grew its position in Amgen by 6.1% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 17,513 shares of the medical research company's stock valued at $7,382,000 after acquiring an additional 1,011 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Amgen by 88.7% in the third quarter. Crossmark Global Holdings Inc. now owns 75,992 shares of the medical research company's stock worth $32,031,000 after purchasing an additional 35,730 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Tezspire delivered strong Phase 3 results. Amgen and AstraZeneca reported that Tezspire produced statistically significant improvements in eosinophilic esophagitis, including sustained symptom improvement and histologic remission through 52 weeks. Reuters reported a 69% remission rate, strengthening the case for a potential expansion of Tezspire beyond asthma. Reuters Tezspire Phase 3 results
• Positive Sentiment: Analysts remain bullish. Piper Sandler maintained a Buy rating and set a $457 price target, while Goldman Sachs raised its target to $481. The revisions indicate continued confidence in Amgen’s pipeline, earnings outlook and portfolio diversification. Piper Sandler Amgen rating
• Positive Sentiment: Recent financial performance supports the growth narrative. Amgen’s latest quarterly results exceeded expectations, with earnings per share of $6.29 versus the $5.62 consensus and revenue of $10.05 billion versus $9.43 billion expected. Revenue increased 9.5% year over year, helping reinforce the investment story. Amgen earnings beat analysis
• Neutral Sentiment: Additional catalysts are approaching. Amgen plans to present oncology data and other research at the European Society for Medical Oncology Congress on October 24, which could provide further pipeline updates. Amgen ESMO 2026 presentation
• Negative Sentiment: Valuation and execution risks remain. Amgen trades at a considerably higher valuation than Bristol Myers Squibb, according to comparative coverage, leaving less room for disappointment. Tezspire’s opportunity also depends on regulatory approval and successful commercialization in EoE. Amgen versus Bristol Myers Squibb comparison

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 1,252 shares of the 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 transaction, the senior vice president directly owned 6,404 shares in the company, valued at $2,666,817.72. This represents a 16.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the firm's 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 transaction, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. 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 90 days. 0.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on AMGN shares. Mizuho lifted their target price on Amgen from $303.00 to $352.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 18th. Barclays boosted their target price on shares of Amgen from $380.00 to $400.00 and gave the company an "equal weight" rating in a research note on Wednesday. Bank of America upped their price target on shares of Amgen from $312.00 to $317.00 and gave the stock an "underperform" rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Amgen from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. Finally, Guggenheim decreased their price objective on shares of Amgen from $388.00 to $378.00 and set a "neutral" rating for the company in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $388.64.

Amgen Stock Down 0.1%

Shares of NASDAQ:AMGN opened at $438.34 on Thursday. Amgen Inc. has a 52-week low of $288.00 and a 52-week high of $447.03. The stock has a market cap of $236.98 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 3.21 and a beta of 0.41. The business's 50 day moving average is $416.63 and its 200 day moving average is $376.69. 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 released its quarterly earnings data 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. The company had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. Amgen's quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Sell-side analysts predict that Amgen Inc. will post 22.94 EPS for the current year.

Amgen Dividend Announcement

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

About Amgen

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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

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.