Resona Asset Management Co. Ltd. Trims Stock Position in Amgen Inc. $AMGN

Key Points

• Resona Asset Management reduced its Amgen stake by 3.3% in the fourth quarter, selling 5,981 shares and ending with 172,922 shares valued at about $56.7 million.
• Amgen recently beat quarterly earnings expectations, reporting $5.15 EPS on $8.62 billion in revenue, while also guiding FY 2026 EPS to a range of 21.7 to 23.1.
• The company announced a quarterly dividend of $2.52 per share, equivalent to an annualized yield of 3.1%, even as analyst sentiment remains mixed with an overall “Hold” rating.

Resona Asset Management Co. Ltd. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 172,922 shares of the medical research company's stock after selling 5,981 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Amgen were worth $56,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. High Note Wealth LLC raised its stake in shares of Amgen by 5.8% during the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock worth $166,000 after buying an additional 28 shares in the last quarter. West Family Investments Inc. raised its stake in shares of Amgen by 1.1% during the 3rd quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company's stock worth $779,000 after buying an additional 30 shares in the last quarter. Viawealth LLC raised its stake in shares of Amgen by 0.4% during the 3rd quarter. Viawealth LLC now owns 7,168 shares of the medical research company's stock worth $2,023,000 after buying an additional 30 shares in the last quarter. LOM Asset Management Ltd raised its stake in shares of Amgen by 1.2% during the 3rd quarter. LOM Asset Management Ltd now owns 2,554 shares of the medical research company's stock worth $721,000 after buying an additional 30 shares in the last quarter. Finally, Smith Salley Wealth Management raised its stake in shares of Amgen by 0.3% during the 4th quarter. Smith Salley Wealth Management now owns 10,786 shares of the medical research company's stock worth $3,530,000 after buying an additional 30 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley set a $332.00 target price on Amgen in a research note on Friday, May 1st. TD Cowen reissued a "buy" rating on shares of Amgen in a research note on Wednesday, February 4th. Freedom Capital raised Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Sanford C. Bernstein downgraded Amgen from an "outperform" rating to a "market perform" rating and set a $335.00 target price for the company. in a research note on Tuesday, January 20th. Finally, Citigroup increased their target price on Amgen from $315.00 to $345.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Amgen presently has an average rating of "Hold" and an average target price of $356.15.

Amgen Stock Performance

AMGN opened at $324.39 on Tuesday. The stock has a market cap of $175.07 billion, a P/E ratio of 22.57, a P/E/G ratio of 3.28 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 1.01. The stock's 50 day simple moving average is $348.31 and its 200 day simple moving average is $343.59. Amgen Inc. has a 1-year low of $267.83 and a 1-year high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. The business had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 22.37 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 15th will be issued a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, May 15th. Amgen's dividend payout ratio is 70.15%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the sale, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.85% of the company's stock.

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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