Amgen Inc. $AMGN Stock Sold by Avity Investment Management Inc.

Key Points

• Avity Investment Management reduced its Amgen stake by 8.2% in the third quarter, selling 6,228 shares and retaining 69,958 shares valued at approximately $29.5 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported quarterly EPS of $6.29 and revenue of $10.05 billion, exceeding analyst estimates, while revenue increased 9.5% year over year. The company also maintains a quarterly dividend of $2.52, equivalent to a 2.4% annual yield.
• Analyst sentiment remains mixed: UBS raised its rating to “buy” with a $470 target, but the broader consensus is “hold” with a $389.71 target price. Amgen shares recently traded at $414.87.

Avity Investment Management Inc. lowered its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,958 shares of the medical research company's stock after selling 6,228 shares during the period. Amgen comprises 1.8% of Avity Investment Management Inc.'s holdings, making the stock its 26th largest position. Avity Investment Management Inc.'s holdings in Amgen were worth $29,488,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its holdings in Amgen by 38.2% during the second 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 during the last quarter. Bank of America Corp DE purchased a new position in Amgen in the second quarter valued at about $1,831,903,000. Wellington Management Group LLP grew its position in shares of Amgen by 1,102.7% during the 2nd quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company's stock valued at $993,031,000 after acquiring an additional 2,514,254 shares during the period. BlackRock Inc. grew 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 acquiring an additional 2,261,544 shares during the period. Finally, Corient Private Wealth LP purchased a new stake in shares of Amgen during the 2nd quarter worth approximately $187,401,000. Institutional investors own 76.50% of the company's stock.

Amgen Price Performance

Shares of Amgen stock traded up $7.43 during trading on Friday, hitting $414.87. The stock had a trading volume of 2,553,004 shares, compared to its average volume of 2,753,013. 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 12 month low of $288.00 and a 12 month high of $447.03. The firm has a market cap of $224.29 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 2.98 and a beta of 0.41. The business's 50-day moving average is $412.35 and its 200 day moving average is $371.88.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) 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 company had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same quarter last year, the company earned $6.02 earnings per share. The firm'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 anticipate that Amgen Inc. will post 22.94 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 21st. Amgen's payout ratio is currently 62.65%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMGN. Sanford C. Bernstein upped their price objective on Amgen from $335.00 to $345.00 and gave the company a "market perform" rating in a research note on Thursday, August 6th. UBS Group upped their price objective on shares of Amgen from $430.00 to $470.00 and gave the company a "buy" rating in a report on Friday. BMO Capital Markets lowered shares of Amgen from an "outperform" rating to a "market perform" rating and set a $450.00 target price for the company. in a research report on Tuesday, September 8th. Wall Street Zen upgraded shares of Amgen from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Truist Financial upped their price target on shares of Amgen from $362.00 to $380.00 and gave the company a "hold" rating in a research note on Wednesday. One 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 stock. According to data from MarketBeat.com, Amgen has a consensus rating of "Hold" and a consensus target price of $389.71.

Trending Headlines about Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: UBS upgraded Amgen to Buy and raised its price target to $470 from $430, implying further upside from the reported $414.87 share price. The upgrade is the clearest near-term catalyst behind the stock’s strength. Benzinga analyst upgrade report
• Positive Sentiment: Amgen announced a head-to-head Phase 3 trial for its monthly diabetes drug candidate against semaglutide. Success could strengthen the company’s position in the highly competitive GLP-1 market and provide a significant future growth opportunity, although clinical and commercial risks remain. Amgen monthly diabetes trial article
• Positive Sentiment: Cantor Fitzgerald raised its Amgen price target to $440 from $400, signaling improved expectations despite maintaining a Hold rating. Cantor Fitzgerald price target report

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,252 shares of the company's 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 completion of the transaction, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction on 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 transaction, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 6,222 shares of company stock worth $2,540,926. Corporate insiders own 0.85% of the company's stock.

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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