Amgen Inc. $AMGN Shares Sold by WealthPlan Investment Management LLC

Key Points

• WealthPlan Investment Management reduced its Amgen stake by 39% in the fourth quarter, selling 14,878 shares and leaving it with 23,253 shares worth about $7.6 million.
• Amgen reported better-than-expected quarterly results, with EPS of $5.15 versus $4.77 expected and revenue of $8.62 billion, up 5.8% year over year.
• The company declared a quarterly dividend of $2.52 per share, payable June 5, implying an annualized yield of about 3.1%.

WealthPlan Investment Management LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 39.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,253 shares of the medical research company's stock after selling 14,878 shares during the period. WealthPlan Investment Management LLC's holdings in Amgen were worth $7,611,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Hills Bank & Trust Co increased its position in shares of Amgen by 44.4% during the fourth quarter. Hills Bank & Trust Co now owns 969 shares of the medical research company's stock worth $317,000 after purchasing an additional 298 shares in the last quarter. Arjuna Capital increased its position in shares of Amgen by 0.7% during the fourth quarter. Arjuna Capital now owns 7,478 shares of the medical research company's stock worth $2,448,000 after purchasing an additional 55 shares in the last quarter. Stephens Inc. AR increased its position in shares of Amgen by 10.4% during the fourth quarter. Stephens Inc. AR now owns 105,450 shares of the medical research company's stock worth $34,579,000 after purchasing an additional 9,974 shares in the last quarter. DNB Asset Management AS increased its position in shares of Amgen by 1.8% during the fourth quarter. DNB Asset Management AS now owns 142,001 shares of the medical research company's stock worth $46,478,000 after purchasing an additional 2,474 shares in the last quarter. Finally, Sculati Wealth Management LLC grew its holdings in shares of Amgen by 1.2% during the fourth quarter. Sculati Wealth Management LLC now owns 3,275 shares of the medical research company's stock valued at $1,072,000 after buying an additional 38 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This represents a 15.00% 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. Insiders own 0.85% of the company's stock.

Amgen Price Performance

Shares of AMGN opened at $326.31 on Friday. Amgen Inc. has a 1-year low of $267.73 and a 1-year high of $391.29. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The firm has a market capitalization of $176.10 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 3.28 and a beta of 0.44. The company's fifty day moving average price is $349.17 and its 200-day moving average price is $342.99.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same period in the prior year, the company earned $4.90 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities research analysts predict that Amgen Inc. will post 22.37 EPS for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 15th will be issued a $2.52 dividend. This represents a $10.08 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, May 15th. Amgen's dividend payout ratio is presently 70.15%.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of research analyst reports. Rothschild & Co Redburn boosted their price objective on shares of Amgen from $180.00 to $200.00 and gave the company a "sell" rating in a report on Wednesday, February 18th. TD Cowen reissued a "buy" rating on shares of Amgen in a report on Wednesday, February 4th. Leerink Partners reissued a "market perform" rating and set a $355.00 price objective on shares of Amgen in a report on Thursday, March 5th. Freedom Capital raised shares of Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Finally, Mizuho boosted their price objective on shares of Amgen from $280.00 to $295.00 and gave the company an "outperform" rating in a report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Amgen has an average rating of "Hold" and a consensus price target of $356.15.

Amgen Company 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.

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