Principal Financial Group Inc. Decreases Holdings in Amgen Inc. $AMGN

Key Points

• Principal Financial Group reduced its Amgen stake by 1.9% in the second quarter, selling 12,052 shares and retaining 614,341 shares worth approximately $222.5 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen reported better-than-expected quarterly results, with earnings of $6.29 per share and revenue of $10.05 billion, representing 9.5% year-over-year revenue growth. The company also declared a quarterly dividend of $2.52 per share, equivalent to a 2.4% annualized yield.
• Amgen shares opened at $415.21, near their 12-month high of $421.79, while analysts maintain an overall “Hold” rating with an average price target of $372.39. Two senior vice presidents also sold shares in August, contributing to $2.54 million in insider sales over the past 90 days.

Principal Financial Group Inc. decreased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 614,341 shares of the medical research company's stock after selling 12,052 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Amgen worth $222,465,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after buying an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Amgen by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock valued at $331,000 after acquiring an additional 114 shares during the period. Schnieders Capital Management LLC. boosted its holdings in Amgen by 29.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock valued at $7,220,000 after acquiring an additional 5,853 shares during the period. Main Street Financial Solutions LLC increased its stake in Amgen by 11.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock worth $1,141,000 after purchasing an additional 416 shares during the period. Finally, Ieq Capital LLC lifted its position in Amgen by 5.1% in the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock valued at $15,120,000 after purchasing an additional 2,611 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of Amgen 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 owned 7,340 shares in the company, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the sale, the senior vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by corporate insiders.

Amgen Stock Performance

Shares of Amgen stock opened at $415.21 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The firm has a market capitalization of $224.47 billion, a P/E ratio of 25.81, a P/E/G ratio of 3.86 and a beta of 0.41. The business has a fifty day simple moving average of $370.57 and a two-hundred day simple moving average of $358.93. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $421.79.

Amgen (NASDAQ:AMGN - Get Free Report) last announced 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. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business had revenue of $10.05 billion for the quarter, compared to analysts' expectations of $9.43 billion. During the same quarter in the prior 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. On average, equities analysts forecast that Amgen Inc. will post 22.78 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 21st. Amgen's dividend payout ratio (DPR) is 62.65%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMGN. Robert W. Baird raised their target price on shares of Amgen from $215.00 to $230.00 and gave the stock an "underperform" rating in a report on Wednesday, August 5th. Daiwa Securities Group decreased their price objective on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $350.00 price objective on shares of Amgen in a research note on Monday, July 6th. Morgan Stanley increased their target price on shares of Amgen from $333.00 to $351.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen upgraded Amgen from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $372.39.

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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