Amgen Inc. $AMGN Shares Sold by Lineweaver Wealth Advisors LLC

Key Points

• Lineweaver Wealth Advisors reduced its Amgen holdings by 36% in the third quarter, selling 2,938 shares and retaining 5,221 shares valued at approximately $2.2 million. Institutional investors collectively own 76.5% of Amgen.
• Analyst sentiment remains mixed, with an average rating of “Hold” and a consensus price target of $387.93, despite several firms raising their targets to between $440 and $500.
• Amgen shares recently fell 1.1% to $412.84, while the company reported quarterly earnings and revenue above expectations and paid a quarterly dividend of $2.52 per share, representing a 2.4% yield.

Lineweaver Wealth Advisors LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 36.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,221 shares of the medical research company's stock after selling 2,938 shares during the quarter. Lineweaver Wealth Advisors LLC's holdings in Amgen were worth $2,201,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Wellington Altus USA Inc. raised its stake in shares of Amgen by 72.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock valued at $28,000 after acquiring an additional 34 shares during the period. Tower View Wealth Management LLC lifted its holdings in shares of Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after acquiring an additional 63 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in Amgen during the 2nd quarter worth $36,000. Evergreen Advisors LLC purchased a new stake in Amgen during the 1st quarter worth $37,000. Finally, Steph & Co. purchased a new stake in Amgen during the 3rd quarter worth $42,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group raised their price objective on Amgen from $430.00 to $470.00 and gave the company a "buy" rating in a research report on Friday. Cantor Fitzgerald boosted their price objective on Amgen from $400.00 to $440.00 and gave the stock a "neutral" rating in a research note on Monday, October 5th. Scotiabank upped their target price on Amgen from $450.00 to $500.00 and gave the stock an "outperform" rating in a research report on Monday, September 28th. Mizuho increased their target price on Amgen from $303.00 to $352.00 and gave the company a "neutral" rating in a research note on Tuesday, August 18th. Finally, Weiss Ratings upgraded Amgen from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $387.93.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the sale, the senior vice president owned 6,404 shares of the company's stock, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nancy Grygiel sold 2,970 shares of Amgen stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,222 shares of company stock valued at $2,540,926. Company insiders own 0.85% of the company's stock.

Amgen Stock Down 1.1%

Shares of NASDAQ:AMGN traded down $4.73 during trading on Tuesday, hitting $412.84. The company's stock had a trading volume of 2,319,557 shares, compared to its average volume of 2,748,310. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen Inc. has a fifty-two week low of $288.00 and a fifty-two week high of $447.03. The stock's 50-day moving average price is $414.16 and its two-hundred day moving average price is $373.24. The company has a market capitalization of $223.19 billion, a PE ratio of 25.66, a PEG ratio of 2.99 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same quarter last year, the firm earned $6.02 EPS. Amgen's quarterly revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 22.94 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were paid a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, August 21st. Amgen's dividend payout ratio is 62.65%.

Amgen Profile

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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