SevenBridge Financial Group LLC Decreases Position in Amgen Inc. $AMGN

Key Points

• SevenBridge Financial Group trimmed its position in Amgen by 24.1% in Q3, selling 2,689 shares and leaving it with 8,459 shares valued at about $2.387 million.
• Amgen beat quarterly expectations with EPS of $5.29 (vs. $4.76 est.) and revenue of $9.87 billion (vs. $9.46B est.), and set FY2026 guidance of 21.600–23.000 EPS.
• The company declared a quarterly dividend of $2.52 per share (annualized $10.08, ~2.7% yield), while analysts hold an average rating of "Hold" with a consensus price target of $354.

SevenBridge Financial Group LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 24.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,459 shares of the medical research company's stock after selling 2,689 shares during the period. SevenBridge Financial Group LLC's holdings in Amgen were worth $2,387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Evelyn Partners Investment Management LLP bought a new stake in Amgen in the second quarter worth $32,000. Howard Hughes Medical Institute bought a new stake in shares of Amgen in the 2nd quarter worth about $32,000. Cloud Capital Management LLC purchased a new position in shares of Amgen during the 3rd quarter worth about $34,000. AXS Investments LLC bought a new position in Amgen during the 3rd quarter valued at about $42,000. Finally, Winnow Wealth LLC purchased a new stake in Amgen in the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on AMGN shares. Erste Group Bank raised Amgen from a "hold" rating to a "buy" rating in a research note on Friday, December 5th. Wells Fargo & Company raised their price target on Amgen from $325.00 to $375.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 19th. Sanford C. Bernstein cut Amgen from an "outperform" rating to a "market perform" rating and set a $335.00 price objective for the company. in a report on Tuesday, January 20th. Guggenheim upped their price objective on Amgen from $305.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, February 6th. Finally, Mizuho increased their target price on Amgen from $280.00 to $295.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $354.00.

Amgen Price Performance

Shares of AMGN opened at $377.64 on Thursday. The stock has a market capitalization of $203.57 billion, a PE ratio of 26.54, a PEG ratio of 3.72 and a beta of 0.45. Amgen Inc. has a fifty-two week low of $261.43 and a fifty-two week high of $391.29. The company has a debt-to-equity ratio of 5.78, a quick ratio of 0.90 and a current ratio of 1.14. The company has a 50 day moving average price of $356.15 and a 200-day moving average price of $324.33.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share for the quarter, topping analysts' consensus estimates of $4.76 by $0.53. Amgen had a return on equity of 148.37% and a net margin of 20.98%.The firm had revenue of $9.87 billion during the quarter, compared to analysts' expectations of $9.46 billion. During the same period in the prior year, the business posted $5.31 EPS. The firm's quarterly revenue was up 8.6% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. Equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.7%. Amgen's dividend payout ratio is presently 70.84%.

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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.