Amgen Inc. $AMGN Stock Holdings Reduced by Allegheny Financial Group

Allegheny Financial Group cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 76.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,899 shares of the medical research company’s stock after selling 6,112 shares during the period. Allegheny Financial Group’s holdings in Amgen were worth $536,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AMGN. Legacy Investment Solutions LLC acquired a new position in Amgen during the 2nd quarter valued at $27,000. Evelyn Partners Investment Management LLP bought a new position in shares of Amgen during the 2nd quarter worth about $32,000. Howard Hughes Medical Institute acquired a new position in shares of Amgen during the second quarter valued at about $32,000. Quaker Wealth Management LLC lifted its stake in shares of Amgen by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after buying an additional 240 shares during the period. Finally, Cloud Capital Management LLC acquired a new stake in Amgen during the third quarter worth about $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 3,139 shares of Amgen stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $337.26, for a total value of $1,058,659.14. Following the completion of the transaction, the senior vice president directly owned 7,225 shares of the company’s stock, valued at $2,436,703.50. The trade was a 30.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMGN shares. The Goldman Sachs Group boosted their price target on shares of Amgen from $403.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Argus lifted their target price on shares of Amgen from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Cantor Fitzgerald increased their price target on shares of Amgen from $315.00 to $350.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Leerink Partners raised their price target on shares of Amgen from $305.00 to $355.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Finally, BMO Capital Markets upped their price objective on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $353.39.

Amgen Price Performance

Shares of Amgen stock opened at $364.65 on Wednesday. The stock has a market capitalization of $196.36 billion, a price-to-earnings ratio of 25.63, a P/E/G ratio of 3.85 and a beta of 0.46. The firm’s 50-day moving average price is $335.74 and its two-hundred day moving average price is $312.39. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 5.78. Amgen Inc. has a 1-year low of $261.43 and a 1-year high of $385.12.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.76 by $0.53. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The company had revenue of $9.87 billion during the quarter, compared to analysts’ expectations of $9.46 billion. During the same quarter in the previous year, the company posted $5.31 earnings per share. Amgen’s quarterly revenue was up 8.6% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be paid a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date is Friday, February 13th. Amgen’s dividend payout ratio is 66.90%.

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.