TD Private Client Wealth LLC Sells 3,426 Shares of Amgen Inc. $AMGN

Key Points

• TD Private Client Wealth LLC cut its Amgen position by 13.0% in the fourth quarter, selling 3,426 shares and leaving it with 22,859 shares valued at about $7.48 million.
• Analysts remain cautious on AMGN, with a consensus rating of “Hold” and an average price target of $356.15, even though several firms recently adjusted their targets.
• Amgen reported solid quarterly results and a dividend: EPS of $5.15 beat estimates, revenue rose 5.8% year over year, and the company announced a quarterly dividend of $2.52 per share, or $10.08 annualized.

TD Private Client Wealth LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 22,859 shares of the medical research company's stock after selling 3,426 shares during the period. TD Private Client Wealth LLC's holdings in Amgen were worth $7,482,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AMGN. Brighton Jones LLC boosted its holdings in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after buying an additional 5,226 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Amgen by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock worth $331,000 after buying an additional 114 shares during the period. Schnieders Capital Management LLC. boosted its holdings in shares of Amgen by 29.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock worth $7,220,000 after buying an additional 5,853 shares during the period. Main Street Financial Solutions LLC boosted its holdings in shares of Amgen by 11.3% during 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 buying an additional 416 shares during the period. Finally, Ieq Capital LLC boosted its holdings in shares of Amgen by 5.1% during the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock worth $15,120,000 after buying an additional 2,611 shares during the period. Institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. Barclays initiated coverage on shares of Amgen in a report on Friday, February 20th. They set an "equal weight" rating and a $350.00 target price for the company. Guggenheim reduced their target price on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Mizuho lifted their target price on shares of Amgen from $280.00 to $295.00 and gave the stock an "outperform" rating in a report on Tuesday, February 10th. Citigroup lifted their price objective on shares of Amgen from $315.00 to $345.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 4th. Finally, Erste Group Bank reiterated a "hold" rating on shares of Amgen in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Amgen has a consensus rating of "Hold" and a consensus target price of $356.15.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the transaction, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

Shares of Amgen stock opened at $326.31 on Monday. The company has a 50 day moving average of $349.17 and a 200-day moving average of $343.36. Amgen Inc. has a 1-year low of $267.73 and a 1-year high of $391.29. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The company has a market cap of $176.10 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 3.28 and a beta of 0.44.

Amgen (NASDAQ:AMGN - Get Free Report) last issued 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. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter in the prior year, the firm posted $4.90 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 22.37 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, June 5th. Investors of record on Friday, May 15th will be given 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 currently 70.15%.

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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