Amgen Inc. $AMGN Position Lowered by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 22.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,303 shares of the medical research company’s stock after selling 3,055 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Amgen were worth $4,343,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after purchasing an additional 2,261,544 shares in the last quarter. State Street Corp lifted its position in Amgen by 38.2% during the second quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock valued at $15,283,363,000 after buying an additional 11,656,755 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Amgen by 12.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,390,910 shares of the medical research company’s stock valued at $1,952,156,000 after buying an additional 605,928 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Amgen during the 2nd quarter valued at $1,831,903,000. Finally, Invesco Ltd. grew its position in shares of Amgen by 7.2% in the 4th quarter. Invesco Ltd. now owns 4,788,460 shares of the medical research company’s stock worth $1,567,311,000 after buying an additional 321,173 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on AMGN shares. Argus increased their price target on shares of Amgen from $375.00 to $460.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Piper Sandler lifted their price target on shares of Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. HSBC lowered shares of Amgen from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $445.00 to $425.00 in a research note on Thursday, September 10th. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. Finally, Cantor Fitzgerald raised their target price on shares of Amgen from $400.00 to $440.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $387.93.

Insider Activity

In other news, SVP Rachna Khosla sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Nancy Grygiel sold 2,970 shares of the company’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 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. This represents a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 6,222 shares of company stock valued at $2,540,926 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Amgen Stock Up 3.2%

Shares of NASDAQ:AMGN traded up $13.77 on Thursday, hitting $439.88. 1,117,729 shares of the company traded hands, compared to its average volume of 2,741,293. The stock has a 50 day simple moving average of $414.53 and a 200-day simple moving average of $373.75. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The company has a market cap of $237.81 billion, a PE ratio of 27.36, a PEG ratio of 3.02 and a beta of 0.41. Amgen Inc. has a 52 week low of $288.00 and a 52 week high of $447.03.

Amgen (NASDAQ:AMGN) last announced 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 net margin of 22.95% and a return on equity of 124.14%. The company had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. During the same quarter in the previous year, the business posted $6.02 EPS. Amgen’s 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. As a group, research analysts expect that Amgen Inc. will post 22.94 earnings per share for the current year.

Amgen Announces Dividend

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

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen’s portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.