Legal & General Group Plc Sells 53,921 Shares of Amgen Inc. $AMGN

Key Points

• Legal & General Group Plc reduced its Amgen stake by 1.4%, selling 53,921 shares in the second quarter but retaining 3.82 million shares valued at approximately $1.38 billion. Institutional investors own 76.5% of Amgen.
• Amgen exceeded quarterly expectations, reporting $6.29 in adjusted EPS and $10.05 billion in revenue, while revenue increased 9.5% year over year. The company reaffirmed fiscal 2026 EPS guidance of $22.30–$23.50.
• Amgen declared a quarterly dividend of $2.52 per share, equivalent to $10.08 annually and a 2.3% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $380.43, below the reported share price of $443.84.

Legal & General Group Plc trimmed its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,816,942 shares of the medical research company's stock after selling 53,921 shares during the period. Legal & General Group Plc owned about 0.71% of Amgen worth $1,382,191,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Adell Harriman & Carpenter Inc. boosted its stake in shares of Amgen by 7.9% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock worth $7,204,000 after acquiring an additional 1,609 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Amgen in the 4th quarter worth $22,441,000. Sigma Planning Corp raised its holdings in Amgen by 24.0% in the 4th quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company's stock worth $5,889,000 after purchasing an additional 3,488 shares during the period. National Pension Service lifted its position in Amgen by 4.7% during the fourth quarter. National Pension Service now owns 1,239,549 shares of the medical research company's stock valued at $405,717,000 after purchasing an additional 55,489 shares in the last quarter. Finally, Integrated Advisors Network LLC lifted its position in Amgen by 50.5% during the first quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company's stock valued at $6,664,000 after purchasing an additional 6,356 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

NASDAQ:AMGN opened at $443.84 on Tuesday. 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 business's 50-day simple moving average is $380.90 and its two-hundred day simple moving average is $362.81. The stock has a market cap of $239.95 billion, a PE ratio of 27.58, a P/E/G ratio of 3.17 and a beta of 0.41. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $445.87.

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 analysts' consensus estimates of $5.62 by $0.67. The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, analysts forecast that Amgen Inc. will post 22.92 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a $2.52 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.3%. Amgen's payout ratio is currently 62.65%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Robert W. Baird upped their price target on Amgen from $215.00 to $230.00 and gave the stock an "underperform" rating in a research report on Wednesday, August 5th. Erste Group Bank reaffirmed a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. Cantor Fitzgerald boosted their price objective on Amgen from $350.00 to $400.00 and gave the company a "neutral" rating in a research note on Tuesday, August 18th. Argus increased their target price on shares of Amgen from $375.00 to $460.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Finally, Wall Street Zen upgraded shares of Amgen from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $380.43.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president owned 6,404 shares in the company, valued at $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction 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 $2,951,854.40. This trade represents a 28.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,222 shares of company stock valued at $2,540,926 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Amgen 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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