Conning Inc. Sells 19,002 Shares of Amgen Inc. $AMGN

Conning Inc. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 17.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,932 shares of the medical research company’s stock after selling 19,002 shares during the quarter. Amgen comprises about 1.2% of Conning Inc.’s investment portfolio, making the stock its 27th biggest position. Conning Inc.’s holdings in Amgen were worth $37,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Rational Advisors Inc. boosted its holdings in shares of Amgen by 13.7% in the 2nd quarter. Rational Advisors Inc. now owns 199 shares of the medical research company’s stock worth $72,000 after purchasing an additional 24 shares during the period. Beacon Financial Advisory LLC increased its position in shares of Amgen by 2.0% during the 2nd quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company’s stock valued at $461,000 after purchasing an additional 25 shares during the last quarter. James T. Borello RIA increased its position in shares of Amgen by 13.6% during the 3rd quarter. James T. Borello RIA now owns 209 shares of the medical research company’s stock valued at $88,000 after purchasing an additional 25 shares during the last quarter. Sweeney & Michel LLC raised its holdings in Amgen by 0.5% during the 3rd quarter. Sweeney & Michel LLC now owns 5,129 shares of the medical research company’s stock valued at $2,162,000 after buying an additional 25 shares during the period. Finally, Legacy Financial Advisors Inc. raised its holdings in Amgen by 0.8% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company’s stock valued at $1,234,000 after buying an additional 26 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMGN shares. Sanford C. Bernstein raised their price target on Amgen from $335.00 to $345.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Guggenheim cut their price objective on shares of Amgen from $388.00 to $378.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Royal Bank Of Canada boosted their price objective on shares of Amgen from $400.00 to $430.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. Jefferies Financial Group reissued a “hold” rating and issued a $410.00 target price on shares of Amgen in a research note on Wednesday, September 23rd. Finally, Truist Financial raised their target price on shares of Amgen from $362.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Amgen presently has an average rating of “Hold” and a consensus price target of $389.71.

Amgen Trading Up 0.9%

AMGN opened at $451.83 on Thursday. 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 stock’s 50 day moving average price is $418.95 and its 200-day moving average price is $373.41. Amgen Inc. has a one year low of $288.00 and a one year high of $454.66. The stock has a market cap of $244.27 billion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 3.21 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same period last year, the company earned $6.02 EPS. Amgen’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. On average, equities analysts forecast that Amgen Inc. will post 22.96 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be paid a $2.52 dividend. The ex-dividend date is Friday, November 20th. This represents a $10.08 dividend on an annualized basis and a yield of 2.2%. Amgen’s dividend payout ratio (DPR) is presently 62.65%.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,252 shares of the business’s 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 sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 2,970 shares of the company’s stock in a transaction dated 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 owned 7,340 shares in the company, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 6,222 shares of company stock worth $2,540,926. Insiders own 0.85% of the company’s stock.

Key Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported positive Phase 3 OASIZ-301 results for dazodalibep in Sjögren’s disease, showing statistically significant and clinically meaningful improvements in systemic disease activity and patient-reported dryness. The company will also present additional data for UPLIZNA, KRYSTEXXA and TAVNEOS, reinforcing the potential of its rare-disease and autoimmune pipeline. Amgen autoimmune disease data announcement
• Positive Sentiment: Goldman Sachs and TD Cowen reiterated Buy ratings, supporting the view that Amgen’s oncology, rare-disease and autoimmune portfolio can sustain growth. Goldman Sachs Buy rating TD Cowen Buy rating
• Positive Sentiment: Amgen declared a quarterly dividend of $2.52 per share, or $10.08 annualized, providing continued income support for shareholders. The payment is scheduled for December 11 to shareholders of record on November 20. Amgen fourth-quarter dividend announcement
• Neutral Sentiment: Amgen will release third-quarter 2026 results after the U.S. market closes on November 3. The company has a four-quarter earnings-beat streak, but investors are focused on whether strong drug sales can offset pricing pressure, biosimilar competition and rising costs. Amgen third-quarter 2026 earnings webcast
• Negative Sentiment: The FDA issued a warning concerning promotional material for Amgen’s cancer drug Vectibix, creating regulatory and compliance risk. FDA warning over Vectibix promotion
• Negative Sentiment: Jefferies raised its price target to $428, which remains below the stock’s recently cited trading level and may signal limited near-term upside despite maintaining broader bullish sentiment. Jefferies Amgen price target

Amgen Company Profile

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.