Amgen Inc. $AMGN Stock Sold by Castle Rock Wealth Management LLC

Key Points

• Castle Rock Wealth Management reduced its Amgen stake by 34% in the third quarter, selling 3,186 shares and retaining 6,194 shares valued at approximately $2.5 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported quarterly EPS of $6.29 and revenue of $10.05 billion, surpassing analyst estimates, while revenue increased 9.5% year over year. The company also declared a quarterly dividend of $2.52, representing a 2.4% annual yield.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating despite several price-target increases. Amgen shares recently rose 1.8% to $414.87, while the company advances a Phase 3 trial for a monthly diabetes drug candidate targeting semaglutide.

Castle Rock Wealth Management LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 34.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,194 shares of the medical research company's stock after selling 3,186 shares during the period. Castle Rock Wealth Management LLC's holdings in Amgen were worth $2,494,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Altus USA Inc. grew its holdings in shares of Amgen by 72.3% during the 2nd quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company's stock worth $28,000 after purchasing an additional 34 shares during the period. Tower View Wealth Management LLC raised its holdings in Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after buying an additional 63 shares during the period. Security National Bank of Sioux City Iowa IA acquired a new position in Amgen in the second quarter valued at about $36,000. Steph & Co. acquired a new position in Amgen in the third quarter valued at about $42,000. Finally, Evergreen Advisors LLC purchased a new position in Amgen during the first quarter worth about $37,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen News Roundup

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

In related news, SVP Nancy Grygiel sold 2,970 shares of Amgen stock in a transaction that occurred 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 owned 7,340 shares in the company, valued at $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,222 shares of company stock valued at $2,540,926 in the last quarter. 0.85% of the stock is owned by insiders.

Amgen Stock Up 1.8%

Shares of NASDAQ:AMGN traded up $7.43 during trading on Friday, hitting $414.87. The company's stock had a trading volume of 2,553,004 shares, compared to its average volume of 2,753,013. Amgen Inc. has a fifty-two week low of $288.00 and a fifty-two week high of $447.03. The business has a 50 day moving average price of $412.35 and a two-hundred day moving average price of $371.88. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The company has a market capitalization of $224.29 billion, a PE ratio of 25.78, a P/E/G ratio of 2.98 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 the consensus estimate of $5.62 by $0.67. The business had revenue of $10.05 billion for the quarter, compared to analysts' expectations of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, research analysts expect that Amgen Inc. will post 22.94 EPS for the current fiscal 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 given a $2.52 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. Amgen's dividend payout ratio (DPR) is currently 62.65%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Amgen from $400.00 to $435.00 and gave the company an "equal weight" rating in a research report on Friday, September 4th. Truist Financial increased their price objective on shares of Amgen from $362.00 to $380.00 and gave the stock a "hold" rating in a research report on Wednesday. Weiss Ratings raised shares of Amgen from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday. Jefferies Financial Group reiterated a "hold" rating and issued a $410.00 target price on shares of Amgen in a report on Wednesday, September 23rd. Finally, Guggenheim upped their price target on Amgen from $343.00 to $388.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. 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 issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $389.71.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.