Amgen Inc. $AMGN Shares Sold by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 38.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,243 shares of the medical research company’s stock after selling 4,524 shares during the period. Commonwealth Retirement Investments LLC’s holdings in Amgen were worth $2,623,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMGN. High Note Wealth LLC lifted its holdings in shares of Amgen by 5.8% during the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock valued at $166,000 after acquiring an additional 28 shares in the last quarter. TAGStone Capital Inc. increased its holdings in Amgen by 0.7% in the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock valued at $1,351,000 after purchasing an additional 28 shares in the last quarter. Verus Capital Partners LLC increased its holdings in Amgen by 2.3% in the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock valued at $403,000 after purchasing an additional 28 shares in the last quarter. Destination Wealth Management raised its position in Amgen by 2.1% in the fourth quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock valued at $456,000 after purchasing an additional 29 shares during the period. Finally, Breakwater Capital Group raised its position in Amgen by 1.4% in the first quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company’s stock valued at $717,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

AMGN opened at $415.21 on Friday. The company has a market capitalization of $224.47 billion, a P/E ratio of 25.81, a PEG ratio of 3.86 and a beta of 0.41. The company has a 50-day moving average of $370.57 and a 200-day moving average of $358.93. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $421.79.

Amgen (NASDAQ:AMGN) last issued 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 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 analysts’ expectations of $9.43 billion. During the same quarter last year, the company posted $6.02 earnings per share. The company’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. Equities analysts expect that Amgen Inc. will post 22.78 EPS for the current fiscal year.

Amgen Announces Dividend

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

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the business’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 completion of the sale, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rachna Khosla sold 1,252 shares of the company’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 sale, the senior vice president directly 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,222 shares of company stock worth $2,540,926 in the last 90 days. 0.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on AMGN. Wells Fargo & Company boosted their price objective on Amgen from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Scotiabank raised their target price on Amgen from $385.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Piper Sandler reissued an “overweight” rating on shares of Amgen in a research report on Friday, June 12th. Finally, UBS Group upped their price target on Amgen from $420.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.