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

WealthPlan Investment Management LLC lessened its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 22.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,303 shares of the medical research company's stock after selling 3,055 shares during the period. WealthPlan Investment Management LLC's holdings in Amgen were worth $4,343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMGN. BlackRock Inc. raised its holdings 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 buying an additional 2,261,544 shares in the last quarter. State Street Corp raised its stake in shares of 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 acquiring an additional 11,656,755 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Amgen by 12.7% in the 2nd 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 worth $1,952,156,000 after acquiring an additional 605,928 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Amgen in the 2nd quarter valued at $1,831,903,000. Finally, Invesco Ltd. grew its holdings in shares of Amgen by 7.2% during the 4th quarter. Invesco Ltd. now owns 4,788,460 shares of the medical research company's stock valued at $1,567,311,000 after purchasing an additional 321,173 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the company's 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the sale, the senior vice president directly owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMGN shares. Bank of America upped their price target on shares of Amgen from $312.00 to $317.00 and gave the company an "underperform" rating in a research report on Wednesday, August 5th. Cantor Fitzgerald boosted their target price on Amgen from $400.00 to $440.00 and gave the company a "neutral" rating in a research note on Monday, October 5th. Mizuho increased their target price on Amgen from $303.00 to $352.00 and gave the company a "neutral" rating in a report on Tuesday, August 18th. Royal Bank Of Canada raised their price target on Amgen from $400.00 to $430.00 and gave the stock an "outperform" rating in a research report on Thursday, October 8th. Finally, Weiss Ratings raised Amgen from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 8th. One equities research 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $387.93.

Amgen Trading Up 3.2%

NASDAQ:AMGN traded up $13.77 during mid-day trading on Thursday, reaching $439.88. 1,117,729 shares of the company's stock traded hands, compared to its average volume of 2,741,293. The company has a 50 day moving average price of $414.53 and a 200-day moving average price of $373.75. The firm has a market capitalization of $237.81 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 3.02 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen Inc. has a 12-month low of $288.00 and a 12-month high of $447.03.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.67. The business had revenue of $10.05 billion during 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 business's revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, sell-side analysts predict that Amgen Inc. will post 22.94 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 21st were paid 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 2.3%. Amgen's dividend payout ratio (DPR) is presently 62.65%.

About Amgen

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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