Amgen Inc. $AMGN Stock: Frank Rimerman Advisors LLC Raises Holdings

Key Points

• Frank Rimerman Advisors LLC more than doubled its Amgen position in the third quarter, acquiring 7,892 additional shares for a total holding of 15,164 shares valued at approximately $6.4 million. Institutional investors collectively own 76.5% of AMGN.
• Amgen reported quarterly earnings of $6.29 per share on $10.05 billion in revenue, beating analyst estimates and representing 9.5% year-over-year revenue growth. The company maintains 2026 EPS guidance of $22.30–$23.50.
• AMGN shares recently opened at $432.49, while analysts maintain a consensus “Hold” rating with an average price target of $387.93. Amgen also pays a quarterly dividend of $2.52 per share, yielding about 2.3% annually.

Frank Rimerman Advisors LLC boosted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 108.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,164 shares of the medical research company's stock after buying an additional 7,892 shares during the period. Frank Rimerman Advisors LLC's holdings in Amgen were worth $6,392,000 at the end of the most recent quarter.

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

Amgen Trading Down 0.4%

Shares of AMGN stock opened at $432.49 on Friday. Amgen Inc. has a 12-month low of $288.00 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. The company has a 50 day moving average of $415.54 and a 200-day moving average of $374.76. The firm has a market cap of $233.82 billion, a P/E ratio of 26.88, a PEG ratio of 3.17 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 for the quarter, beating 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 analyst estimates of $9.43 billion. During the same period in the prior year, the company earned $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. Sell-side analysts anticipate that Amgen Inc. will post 22.94 earnings per share for the current year.

Amgen Dividend Announcement

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

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent research reports. Oppenheimer reiterated an "outperform" rating on shares of Amgen in a report on Wednesday, September 23rd. Canaccord Genuity Group lifted their price objective on shares of Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Mizuho upped their target price on shares of Amgen from $303.00 to $352.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 18th. Guggenheim lowered their target price on shares of Amgen from $388.00 to $378.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Jefferies Financial Group reissued a "hold" rating and set a $410.00 price target on shares of Amgen in a research report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average price target of $387.93.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business's stock in a transaction dated 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 owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 in the last ninety days. Insiders own 0.85% of the company's stock.

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.

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