Amgen Inc. $AMGN Stock Sold by WealthCare Asset Management LLC

WealthCare Asset Management LLC lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 35.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,292 shares of the medical research company’s stock after selling 1,268 shares during the quarter. Amgen accounts for 0.8% of WealthCare Asset Management LLC’s portfolio, making the stock its 26th largest position. WealthCare Asset Management LLC’s holdings in Amgen were worth $966,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. State Street Corp lifted its holdings in shares of Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock worth $15,283,363,000 after purchasing an additional 11,656,755 shares during the period. Bank of America Corp DE acquired a new position in Amgen in the 2nd quarter worth approximately $1,831,903,000. Wellington Management Group LLP increased its holdings in Amgen by 1,102.7% in the 2nd quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock worth $993,031,000 after buying an additional 2,514,254 shares during the period. BlackRock Inc. raised its position in Amgen by 4.8% during the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after buying an additional 2,261,544 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Amgen by 702.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,535,257 shares of the medical research company’s stock worth $647,126,000 after buying an additional 1,344,010 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $410.00 price objective on shares of Amgen in a report on Wednesday, September 23rd. UBS Group increased their price target on Amgen from $430.00 to $470.00 and gave the stock a “buy” rating in a research report on Friday, October 9th. Mizuho lifted their price objective on Amgen from $303.00 to $352.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th. Scotiabank boosted their price objective on Amgen from $450.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, September 28th. Finally, Bank of America raised their target price on Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $389.71.

Amgen Trading Up 1.2%

AMGN stock opened at $444.63 on Tuesday. The company’s 50-day simple moving average is $417.26 and its 200-day simple moving average is $371.70. 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 $288.00 and a 52-week high of $450.98. The firm has a market cap of $240.38 billion, a P/E ratio of 27.63, a PEG ratio of 3.21 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.62 by $0.67. The business had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities analysts forecast that Amgen Inc. will post 22.96 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 21st were issued a $2.52 dividend. This represents a $10.08 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, August 21st. Amgen’s payout ratio is presently 62.65%.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the transaction, the senior vice president 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Rachna Khosla sold 1,252 shares of Amgen stock in a transaction that occurred on Thursday, August 13th. The stock was 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 in the company, valued at $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by company insiders.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Strong lung-cancer data: Amgen’s Imdelltra, combined with AstraZeneca’s Imfinzi, reduced the risk of death by 58% in a Phase 3 trial of patients with small-cell lung cancer. Median overall survival reached 21.1 months, improving the commercial outlook for Imdelltra and supporting the shares. Amgen and AstraZeneca lung-cancer trial results
• Positive Sentiment: Constructive analyst action: Jefferies raised its Amgen price target to $428 from $410, while Oppenheimer reaffirmed its Outperform rating. The target increase reflects greater confidence following the clinical update. Jefferies raises Amgen price target Oppenheimer reiterates Amgen Outperform rating
• Neutral Sentiment: Board appointment: Amgen appointed David W. Gibbs to its board of directors. The move adds an experienced corporate leader but is unlikely to materially change near-term earnings expectations. Amgen appoints David W. Gibbs to board
• Neutral Sentiment: Barclays raised its target to $400 from $380, but the revised target remains below the recent trading level. Reported short interest of zero shares provides no meaningful bearish positioning signal. Barclays raises Amgen price target
• Negative Sentiment: Commercial uncertainty remains: Bank of America maintained a Sell rating and a $328 price target, arguing that encouraging Imdelltra data has not eliminated concerns about adoption, competition and the drug’s eventual commercial impact. Bank of America maintains Sell rating on Amgen

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company’s products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.