Charles Schwab Trust Co Increases Stock Position in Amgen Inc. $AMGN

Key Points

• Charles Schwab Trust Co increased its Amgen position by 678.3% in the second quarter, holding 7,464 shares worth approximately $2.7 million. Institutional investors collectively own 76.5% of Amgen’s stock.
• Amgen reported stronger-than-expected quarterly results, with EPS of $6.29 and revenue of $10.05 billion, representing 9.5% year-over-year growth. The company issued FY 2026 EPS guidance of $22.30 to $23.50.
• Amgen declared a quarterly dividend of $2.52 per share, equivalent to a 2.4% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $371.68, below the stock’s reported $417.20 opening price.

Charles Schwab Trust Co grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 678.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,464 shares of the medical research company's stock after acquiring an additional 6,505 shares during the period. Charles Schwab Trust Co's holdings in Amgen were worth $2,703,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AMGN. Norges Bank purchased a new position in shares of Amgen in the 4th quarter valued at about $2,164,162,000. Capital World Investors boosted its position in Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. State Street Corp boosted its position in Amgen by 4.4% during the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock worth $10,012,872,000 after purchasing an additional 1,287,310 shares in the last quarter. Geode Capital Management LLC grew its holdings in Amgen by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock valued at $4,665,822,000 after purchasing an additional 1,035,779 shares during the period. Finally, Amundi grew its holdings in Amgen by 41.1% in the fourth quarter. Amundi now owns 3,396,945 shares of the medical research company's stock valued at $1,111,854,000 after purchasing an additional 988,856 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.5%

Shares of AMGN opened at $417.20 on Tuesday. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $418.40. 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 firm's fifty day moving average is $364.54 and its two-hundred day moving average is $357.03. The stock has a market cap of $225.55 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.82 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same quarter in the prior year, the firm earned $6.02 earnings per share. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Research analysts forecast that Amgen Inc. will post 22.78 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 21st. Amgen's payout ratio is currently 62.65%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AMGN shares. Bank of America upped their target price on Amgen from $312.00 to $317.00 and gave the stock an "underperform" rating in a research note on Wednesday, August 5th. Barclays lifted their price target on shares of Amgen from $350.00 to $360.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 29th. Argus cut their price target on shares of Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Morgan Stanley upped their price objective on shares of Amgen from $333.00 to $351.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 5th. Finally, Truist Financial increased their price objective on shares of Amgen from $340.00 to $362.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $371.68.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the 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 completion of the sale, the senior vice president owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. This trade 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 can be accessed through this link. 0.85% of the stock is owned by company insiders.

Amgen Company Profile

Amgen Inc NASDAQ: AMGN is a global biotechnology company founded in 1980 and headquartered in Thousand Oaks, California. The company focuses on discovering, developing, manufacturing and delivering human therapeutics that address serious illnesses. Amgen's work centers on biologic medicines derived from cellular and molecular biology, with an emphasis on translating advances in human genetics and protein science into therapies for patients.

Amgen's commercial portfolio has historically included biologics used in oncology, supportive care, nephrology, bone health and cardiovascular disease.

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