Meyer Handelman Co. Decreases Stake in Amgen Inc. $AMGN

Meyer Handelman Co. lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 111,120 shares of the medical research company’s stock after selling 4,645 shares during the period. Amgen accounts for about 1.1% of Meyer Handelman Co.’s portfolio, making the stock its 28th biggest holding. Meyer Handelman Co.’s holdings in Amgen were worth $40,238,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Anfield Capital Management LLC increased its holdings in Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after buying an additional 70 shares during the last quarter. Dogwood Wealth Management LLC lifted its holdings in Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after buying an additional 55 shares during the last quarter. Tower View Wealth Management LLC lifted its holdings in 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 buying an additional 63 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in shares of Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after acquiring an additional 32 shares in the last quarter. Finally, Ares Financial Consulting LLC acquired a new position in shares of Amgen during the 4th quarter worth about $34,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 0.6%

Shares of NASDAQ AMGN opened at $415.21 on Friday. The stock has a market cap of $224.47 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 3.86 and a beta of 0.41. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $421.79. The business has a 50-day moving average price of $370.57 and a 200 day moving average price of $358.93.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping 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 in the previous year, the company posted $6.02 earnings per share. The firm’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. Equities research analysts forecast that Amgen Inc. will post 22.78 earnings per share for the current year.

Amgen Dividend Announcement

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

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the transaction, the senior vice president directly owned 6,404 shares of the company’s stock, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction 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 completion of the transaction, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMGN shares. BMO Capital Markets raised their target price on Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Truist Financial upped their price target on Amgen from $340.00 to $362.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Amgen from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Barclays raised their price objective on shares of Amgen from $360.00 to $380.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Daiwa Securities Group reduced their price objective on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus price target of $372.39.

Amgen Company 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.