Amgen Inc. $AMGN Stock Bought by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management increased its Amgen stake by 10.2% in the third quarter, bringing its holdings to 25,739 shares valued at approximately $10.85 million. Institutional investors collectively own 76.5% of Amgen’s stock.
• Amgen reported encouraging Imdelltra lung-cancer trial results: when combined with AstraZeneca’s Imfinzi, the treatment reduced the risk of death by 58% and extended median overall survival to 21.1 months.
• Investor sentiment remains mixed. Analysts’ consensus rating is “Hold” with an average price target of $389.71, while Amgen exceeded quarterly earnings and revenue estimates and continues to pay a quarterly dividend of $2.52.

Apollon Wealth Management LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,739 shares of the medical research company's stock after purchasing an additional 2,376 shares during the quarter. Apollon Wealth Management LLC's holdings in Amgen were worth $10,849,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMGN. BlackRock Inc. boosted its position in shares of Amgen by 4.8% during the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company's stock valued at $17,874,974,000 after purchasing an additional 2,261,544 shares in the last quarter. State Street Corp boosted its holdings in shares of Amgen by 38.2% during the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company's stock worth $15,283,363,000 after buying an additional 11,656,755 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Amgen by 12.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company's stock valued at $1,952,156,000 after purchasing an additional 605,928 shares in the last quarter. Bank of America Corp DE bought a new stake in Amgen in the 2nd quarter valued at about $1,831,903,000. Finally, Amundi lifted its holdings in shares of Amgen by 15.2% in the 2nd quarter. Amundi now owns 3,890,189 shares of the medical research company's stock worth $1,408,715,000 after purchasing an additional 512,883 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Strong lung-cancer data: Amgen’s Imdelltra, combined with AstraZeneca’s Imfinzi, reduced the risk of death by 58% in a Phase 3 trial of patients with small-cell lung cancer. Median overall survival reached 21.1 months, improving the commercial outlook for Imdelltra and supporting the shares. Amgen and AstraZeneca lung-cancer trial results
• Positive Sentiment: Constructive analyst action: Jefferies raised its Amgen price target to $428 from $410, while Oppenheimer reaffirmed its Outperform rating. The target increase reflects greater confidence following the clinical update. Jefferies raises Amgen price target Oppenheimer reiterates Amgen Outperform rating
• Neutral Sentiment: Board appointment: Amgen appointed David W. Gibbs to its board of directors. The move adds an experienced corporate leader but is unlikely to materially change near-term earnings expectations. Amgen appoints David W. Gibbs to board
• Neutral Sentiment: Barclays raised its target to $400 from $380, but the revised target remains below the recent trading level. Reported short interest of zero shares provides no meaningful bearish positioning signal. Barclays raises Amgen price target
• Negative Sentiment: Commercial uncertainty remains: Bank of America maintained a Sell rating and a $328 price target, arguing that encouraging Imdelltra data has not eliminated concerns about adoption, competition and the drug’s eventual commercial impact. Bank of America maintains Sell rating on Amgen

Analyst Ratings Changes

A number of research firms have weighed in on AMGN. Robert W. Baird raised their price objective on shares of Amgen from $215.00 to $230.00 and gave the company an "underperform" rating in a research note on Wednesday, August 5th. Canaccord Genuity Group increased their price objective on Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Morgan Stanley dropped their target price on Amgen from $362.00 to $359.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 7th. Guggenheim cut their target price on Amgen from $388.00 to $378.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 13th. Finally, Royal Bank Of Canada upped their price target on Amgen from $400.00 to $430.00 and gave the stock an "outperform" rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $389.71.

Insider Buying and Selling

In related news, SVP Nancy Grygiel sold 2,970 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 in the last ninety days. 0.85% of the stock is currently owned by insiders.

Amgen Stock Up 1.2%

AMGN stock opened at $444.63 on Tuesday. The stock's fifty day simple moving average is $417.26 and its two-hundred day simple moving average is $371.70. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 1-year low of $288.00 and a 1-year high of $450.98. The stock has a market cap of $240.38 billion, a P/E ratio of 19.64, a P/E/G ratio of 3.21 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) 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 the consensus estimate of $9.43 billion. During the same quarter in the prior year, the company earned $6.02 EPS. The business's revenue for the quarter 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 22.96 EPS for the current year.

Amgen Announces Dividend

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

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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