NewEdge Advisors LLC Has $33.69 Million Holdings in Amgen Inc. $AMGN

Key Points

• NewEdge Advisors reduced its Amgen stake by 3% in the second quarter, selling 2,899 shares and retaining 93,040 shares valued at approximately $33.69 million. Institutional investors collectively own 76.5% of Amgen.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $381.68, despite several firms raising targets and maintaining Buy or Overweight ratings.
• Amgen exceeded quarterly expectations, reporting $6.29 in adjusted earnings per share and $10.05 billion in revenue, while maintaining a quarterly dividend of $2.52 per share, equivalent to a 2.6% yield.

NewEdge Advisors LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,040 shares of the medical research company's stock after selling 2,899 shares during the period. NewEdge Advisors LLC's holdings in Amgen were worth $33,691,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Tower View Wealth Management LLC increased its holdings in Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Evergreen Advisors LLC bought a new stake in shares of Amgen in the first quarter valued at about $37,000. Sfam LLC acquired a new position in shares of Amgen during the fourth quarter worth about $38,000. Advocate Investing Services LLC acquired a new position in shares of Amgen during the fourth quarter worth about $39,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Amgen during the fourth quarter worth about $44,000. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy Grygiel sold 2,970 shares of the 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 sale, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction on Thursday, August 13th. The shares were 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 owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,222 shares of company stock worth $2,540,926 over the last ninety days. Insiders own 0.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AMGN shares. Morgan Stanley reissued an "overweight" rating and issued a $362.00 target price on shares of Amgen in a research report on Wednesday, August 19th. Piper Sandler upped their price target on Amgen from $427.00 to $457.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. Wells Fargo & Company raised their price target on shares of Amgen from $400.00 to $435.00 and gave the stock an "equal weight" rating in a research note on Friday, September 4th. Wall Street Zen upgraded shares of Amgen from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, UBS Group boosted their price objective on shares of Amgen from $420.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $381.68.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen and AstraZeneca reported that the Phase 3 DeLLphi-305 trial met its primary endpoint. Imdelltra combined with Imfinzi significantly improved overall survival in first-line extensive-stage small-cell lung cancer and also met progression-free survival and response-rate endpoints, strengthening the commercial outlook for Imdelltra. Amgen Imdelltra Phase 3 results
• Positive Sentiment: William Blair maintained a Buy rating, citing the Imdelltra Phase 3 success as support for Amgen’s pipeline and investment case. Piper Sandler also reaffirmed its Buy rating. Imdelltra analyst rating
• Neutral Sentiment: Amgen is scheduled to present at the Morgan Stanley Global Healthcare Conference, potentially providing updates on olpasiran, Imdelltra and broader pipeline priorities. Amgen Morgan Stanley conference presentation
• Neutral Sentiment: Analyst views remain mixed: Wells Fargo reiterated Hold, while Cantor Fitzgerald maintained Neutral with a $400 price target, suggesting limited near-term upside from recent levels. Wells Fargo Amgen rating
• Negative Sentiment: Novartis’ Phase 3 pelacarsen trial failed to reduce cardiovascular events despite lowering Lp(a), raising doubts about whether the biomarker translates into clinical benefits. Investors consequently questioned the prospects for Amgen’s olpasiran, which remains in a large late-stage heart-outcomes study. Novartis cholesterol drug setback
• Negative Sentiment: BMO downgraded Amgen to Market Perform from Outperform, citing a less favorable risk-reward balance and limited near-term upside. Broader market pressure from higher oil prices, inflation concerns and interest-rate uncertainty has added to selling pressure. BMO Amgen downgrade

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $391.27 on Thursday. The stock has a 50 day moving average price of $400.14 and a 200 day moving average price of $367.79. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $447.03. 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 stock has a market capitalization of $211.53 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 2.83 and a beta of 0.43.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The firm had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. During the same period last year, the company earned $6.02 earnings per share. The business's revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Analysts predict that Amgen Inc. will post 22.97 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, August 21st. Amgen's payout ratio is presently 62.65%.

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and rare diseases. The company uses biologic research, genetics and other advanced technologies to develop treatments intended to address significant unmet medical needs.

Amgen's medicines include Enbrel for certain inflammatory diseases; Prolia and Evenity for bone-related conditions; Xgeva for complications associated with cancer and bone disease; Repatha for cardiovascular risk reduction; Otezla for inflammatory conditions; and Aimovig for migraine prevention.

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