Russell Investments Group Ltd. Sells 37,910 Shares of Amgen Inc. $AMGN

Key Points

• Russell Investments reduced its Amgen stake by 10.7% in the second quarter, selling 37,910 shares and retaining 316,051 shares valued at approximately $114.3 million. Institutional investors collectively own 76.5% of Amgen.
• Amgen’s latest quarterly results exceeded expectations, with EPS of $6.29 versus the $5.62 consensus and revenue of $10.05 billion, up 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, equivalent to $10.08 annually and a 2.4% yield. Despite a consensus analyst rating of “Hold,” the stock opened at $419.38, near its 52-week high.

Russell Investments Group Ltd. cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 316,051 shares of the medical research company's stock after selling 37,910 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Amgen worth $114,320,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Dogwood Wealth Management LLC raised its stake in Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after purchasing an additional 55 shares in the last quarter. Anfield Capital Management LLC grew its position in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after purchasing an additional 70 shares in the last quarter. Tower View Wealth Management LLC grew its position in shares of 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. Manning & Napier Advisors LLC increased its holdings in shares of Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after purchasing an additional 32 shares during the period. Finally, Ares Financial Consulting LLC bought a new position in shares of Amgen during the fourth quarter worth approximately $34,000. 76.50% of the stock is owned by institutional investors.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 6,222 shares of company stock worth $2,540,926. Company insiders own 0.85% of the company's stock.

Amgen Stock Up 1.0%

NASDAQ AMGN opened at $419.38 on Tuesday. The business has a fifty day moving average price of $372.05 and a two-hundred day moving average price of $359.47. The stock has a market capitalization of $226.73 billion, a PE ratio of 26.06, a PEG ratio of 3.86 and a beta of 0.41. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $421.79. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same quarter last year, the company posted $6.02 EPS. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities analysts expect that Amgen Inc. will post 22.78 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Barclays boosted their price target on Amgen from $360.00 to $380.00 and gave the company an "equal weight" rating in a research note on Friday. Weiss Ratings upgraded Amgen from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 6th. Canaccord Genuity Group lifted their price objective on Amgen from $366.00 to $384.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Argus cut their target price on Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised Amgen from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $372.39.

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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