Todd Asset Management LLC Sells 19,948 Shares of Amgen Inc. $AMGN

Todd Asset Management LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 15.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,134 shares of the medical research company’s stock after selling 19,948 shares during the quarter. Todd Asset Management LLC’s holdings in Amgen were worth $39,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Amgen during the 4th quarter worth approximately $2,164,162,000. Capital World Investors increased its position in shares of Amgen by 22.9% during the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. State Street Corp raised its position in shares of Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after buying an additional 1,287,310 shares during the last quarter. Geode Capital Management LLC raised its holdings in Amgen by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after acquiring an additional 1,035,779 shares during the last quarter. Finally, Amundi boosted its stake in Amgen by 41.1% during the fourth quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock worth $1,111,854,000 after buying an additional 988,856 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $415.21 on Friday. The stock’s 50-day moving average is $370.57 and its two-hundred day moving average is $358.93. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $421.79. The company has a market cap of $224.47 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 3.86 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.43 billion. During the same period last year, the business earned $6.02 EPS. The company’s revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Analysts forecast that Amgen Inc. will post 22.78 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.4%. Amgen’s payout ratio is 62.65%.

Insider Buying and Selling

In other news, 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 value of $1,194,415.20. Following the transaction, the senior vice president directly owned 7,340 shares of the company’s stock, valued at $2,951,854.40. The trade was a 28.81% decrease in their position. The sale 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 on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMGN. Truist Financial raised their price objective on shares of Amgen from $340.00 to $362.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Citigroup increased their price target on shares of Amgen from $345.00 to $405.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Argus cut their price target on shares of Amgen from $400.00 to $375.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. One research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.