GRIMES & Co WEALTH MANAGEMENT LLC Sells 4,111 Shares of Amgen Inc. $AMGN

Key Points

• GRIMES & Co WEALTH MANAGEMENT LLC reduced its stake in Amgen by 4.8%, selling 4,111 shares and leaving it with 82,129 shares valued at $26,882,000 per its latest 13F filing.
• Amgen beat expectations in the quarter with EPS of $5.15 versus $4.77 expected and revenue of $8.62B versus $8.58B, and set FY2026 guidance of 21.70–23.10 EPS (analysts forecast ~22.36 EPS).
• Amgen declared a $2.52 quarterly dividend (annualized $10.08) with a 3.1% yield; the ex-dividend date is May 15 and the payment date is June 5.

GRIMES & Co WEALTH MANAGEMENT LLC reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,129 shares of the medical research company's stock after selling 4,111 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Amgen were worth $26,882,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Capital World Investors boosted its stake in Amgen by 11.5% during the third quarter. Capital World Investors now owns 18,795,474 shares of the medical research company's stock worth $5,303,578,000 after acquiring an additional 1,935,876 shares in the last quarter. Vanguard Group Inc. boosted its stake in Amgen by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock worth $17,949,296,000 after acquiring an additional 961,975 shares in the last quarter. National Bank of Canada FI boosted its stake in Amgen by 237.7% during the third quarter. National Bank of Canada FI now owns 1,226,372 shares of the medical research company's stock worth $346,076,000 after acquiring an additional 863,216 shares in the last quarter. Van ECK Associates Corp boosted its stake in Amgen by 71.8% during the third quarter. Van ECK Associates Corp now owns 1,358,092 shares of the medical research company's stock worth $383,254,000 after acquiring an additional 567,400 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Amgen by 91.6% during the third quarter. Fisher Asset Management LLC now owns 785,284 shares of the medical research company's stock worth $221,607,000 after acquiring an additional 375,463 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research analyst reports. Mizuho increased their target price on shares of Amgen from $280.00 to $295.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 10th. Leerink Partners reissued a "market perform" rating and set a $355.00 target price on shares of Amgen in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Amgen from $285.00 to $295.00 and gave the stock a "hold" rating in a research note on Thursday, February 5th. Morgan Stanley set a $332.00 price objective on shares of Amgen in a report on Friday, May 1st. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $350.00 price objective on shares of Amgen in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $357.12.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares in the company, valued at $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.85% of the company's stock.

Amgen Stock Performance

Shares of AMGN stock opened at $328.91 on Friday. The firm has a 50-day moving average of $355.12 and a 200-day moving average of $341.81. The company has a market cap of $177.51 billion, a P/E ratio of 22.89, a P/E/G ratio of 3.33 and a beta of 0.44. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 0.90. Amgen Inc. has a one year low of $261.43 and a one year high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts forecast that Amgen Inc. will post 22.36 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be paid a $2.52 dividend. The ex-dividend date is Friday, May 15th. This represents a $10.08 annualized dividend and a yield of 3.1%. Amgen's dividend payout ratio is presently 70.15%.

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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