Amgen Inc. $AMGN Stock Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 34.0% in the third quarter, Holdings Channel reports. The firm owned 6,194 shares of the medical research company’s stock after selling 3,186 shares during the period. Castle Rock Wealth Management LLC’s holdings in Amgen were worth $2,494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AMGN. Wellington Altus USA Inc. lifted its stake in Amgen by 72.3% in the second quarter. Wellington Altus USA Inc. now owns 81 shares of the medical research company’s stock valued at $28,000 after buying an additional 34 shares during the last quarter. Tower View Wealth Management LLC boosted its holdings in shares of Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 63 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Amgen during the second quarter worth approximately $36,000. Evergreen Advisors LLC purchased a new position in shares of Amgen during the first quarter worth approximately $37,000. Finally, Steph & Co. acquired a new position in shares of Amgen in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: UBS upgraded Amgen to Buy and raised its price target to $470 from $430, implying further upside from the reported $414.87 share price. The upgrade is the clearest near-term catalyst behind the stock’s strength. Benzinga analyst upgrade report
• Positive Sentiment: Amgen announced a head-to-head Phase 3 trial for its monthly diabetes drug candidate against semaglutide. Success could strengthen the company’s position in the highly competitive GLP-1 market and provide a significant future growth opportunity, although clinical and commercial risks remain. Amgen monthly diabetes trial article
• Positive Sentiment: Cantor Fitzgerald raised its Amgen price target to $440 from $400, signaling improved expectations despite maintaining a Hold rating. Cantor Fitzgerald price target report

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial upped their price target on shares of Amgen from $362.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday. Scotiabank lifted their price objective on shares of Amgen from $450.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, September 28th. Robert W. Baird upped their target price on shares of Amgen from $215.00 to $230.00 and gave the company an “underperform” rating in a report on Wednesday, August 5th. Cantor Fitzgerald increased their target price on shares of Amgen from $400.00 to $440.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Citigroup raised their price target on Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $389.71.

Amgen Stock Performance

Amgen stock traded up $7.43 during trading hours on Friday, reaching $414.87. 2,553,004 shares of the stock were exchanged, compared to its average volume of 2,753,013. Amgen Inc. has a 52-week low of $288.00 and a 52-week high of $447.03. The stock has a market cap of $224.29 billion, a P/E ratio of 25.78, a P/E/G ratio of 2.98 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The firm’s 50 day moving average is $412.35 and its 200 day moving average is $371.88.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. During the same quarter in the previous year, the firm earned $6.02 earnings per share. The business’s quarterly 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. Analysts predict that Amgen Inc. will post 22.94 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 21st were given a $2.52 dividend. The ex-dividend date was Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. Amgen’s dividend payout ratio (DPR) is presently 62.65%.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was 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 directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 1,252 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 in the last ninety days. 0.85% of the stock is owned by corporate insiders.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen’s portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.