NWF Advisory Services Inc. Sells 4,116 Shares of Amgen Inc. $AMGN

Key Points

• NWF Advisory Services cut its Amgen stake by 41.7% in the second quarter, selling 4,116 shares and retaining 5,766 shares valued at approximately $2.09 million. Institutional investors own 76.5% of the company.
• Analyst sentiment remains mixed: Amgen has a consensus “Hold” rating and an average price target of $380.43, despite several firms raising targets as high as $452.
• Amgen exceeded quarterly expectations with $6.29 in adjusted earnings per share and $10.05 billion in revenue, while announcing a quarterly dividend of $2.52 per share, equivalent to a 2.3% annual yield.

NWF Advisory Services Inc. cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 41.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,766 shares of the medical research company's stock after selling 4,116 shares during the quarter. NWF Advisory Services Inc.'s holdings in Amgen were worth $2,088,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Dogwood Wealth Management LLC increased its position in Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after acquiring an additional 55 shares during the period. Anfield Capital Management LLC raised its stake in Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after purchasing an additional 70 shares during the last quarter. Tower View Wealth Management LLC boosted its holdings in Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after purchasing an additional 63 shares during the period. Manning & Napier Advisors LLC boosted its holdings in Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after purchasing an additional 32 shares during the period. Finally, Evergreen Advisors LLC acquired a new stake in Amgen in the 1st quarter worth $37,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMGN. Royal Bank Of Canada boosted their price objective on shares of Amgen from $370.00 to $400.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Bank of America lifted their target price on Amgen from $312.00 to $317.00 and gave the stock an "underperform" rating in a research report on Wednesday, August 5th. Scotiabank boosted their price target on Amgen from $385.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Cantor Fitzgerald upped their price target on Amgen from $350.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, August 18th. Finally, TD Cowen raised their price objective on Amgen from $420.00 to $452.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $380.43.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,252 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Nancy 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 transaction, the senior vice president directly owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 6,222 shares of company stock worth $2,540,926. Corporate insiders own 0.85% of the company's stock.

Amgen Price Performance

NASDAQ:AMGN opened at $444.12 on Friday. The company has a 50-day moving average of $395.82 and a 200-day moving average of $366.66. The company has a market capitalization of $240.11 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 3.19 and a beta of 0.43. 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.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its 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. The business had revenue of $10.05 billion for the quarter, compared to analysts' expectations of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 22.97 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Amgen's payout ratio is presently 62.65%.

About Amgen

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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