Sequoia Financial Advisors LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN – Free Report) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,024 shares of the medical research company’s stock after buying an additional 7,513 shares during the period. Sequoia Financial Advisors LLC’s holdings in Amgen were worth $62,656,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. California State Teachers Retirement System increased its stake in Amgen by 36,047.1% in the 2nd quarter. California State Teachers Retirement System now owns 298,255,793 shares of the medical research company’s stock worth $108,004,388,000 after purchasing an additional 297,430,677 shares during the period. Norges Bank purchased a new stake in shares of Amgen during the fourth quarter valued at approximately $2,164,162,000. Bank of America Corp DE bought a new position in shares of Amgen in the second quarter worth approximately $1,831,903,000. Capital World Investors increased its stake in shares of Amgen by 22.9% in 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 buying an additional 4,302,237 shares during the period. Finally, Wellington Management Group LLP boosted its position in Amgen by 1,102.7% during the 2nd quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock valued at $993,031,000 after buying an additional 2,514,254 shares during the period. Institutional investors own 76.50% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Amgen from $312.00 to $317.00 and gave the company an “underperform” rating in a research report on Wednesday, August 5th. Truist Financial raised their target price on Amgen from $340.00 to $362.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Guggenheim boosted their price target on Amgen from $343.00 to $388.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $362.00 price target on shares of Amgen in a research report on Wednesday, August 19th. Finally, The Goldman Sachs Group set a $389.00 price objective on Amgen in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven 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 company presently has an average rating of “Hold” and an average price target of $381.68.
Read Our Latest Stock Analysis on AMGN
Amgen Stock Performance
Shares of AMGN stock opened at $391.27 on Thursday. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $447.03. The stock has a market cap of $211.53 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 2.83 and a beta of 0.43. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The company’s fifty day moving average price is $400.14 and its 200-day moving average price is $367.79.
Amgen (NASDAQ:AMGN – Get Free Report) 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 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 company had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same period last year, the business 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 expect that Amgen Inc. will post 22.97 EPS for the current fiscal year.
Amgen Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, August 21st. Amgen’s payout ratio is currently 62.65%.
Trending Headlines about Amgen
Here are the key news stories impacting Amgen this week:
- Positive Sentiment: Amgen and AstraZeneca reported that the Phase 3 DeLLphi-305 trial met its primary endpoint. Imdelltra combined with Imfinzi significantly improved overall survival in first-line extensive-stage small-cell lung cancer and also met progression-free survival and response-rate endpoints, strengthening the commercial outlook for Imdelltra. Amgen Imdelltra Phase 3 results
- Positive Sentiment: William Blair maintained a Buy rating, citing the Imdelltra Phase 3 success as support for Amgen’s pipeline and investment case. Piper Sandler also reaffirmed its Buy rating. Imdelltra analyst rating
- Neutral Sentiment: Amgen is scheduled to present at the Morgan Stanley Global Healthcare Conference, potentially providing updates on olpasiran, Imdelltra and broader pipeline priorities. Amgen Morgan Stanley conference presentation
- Neutral Sentiment: Analyst views remain mixed: Wells Fargo reiterated Hold, while Cantor Fitzgerald maintained Neutral with a $400 price target, suggesting limited near-term upside from recent levels. Wells Fargo Amgen rating
- Negative Sentiment: Novartis’ Phase 3 pelacarsen trial failed to reduce cardiovascular events despite lowering Lp(a), raising doubts about whether the biomarker translates into clinical benefits. Investors consequently questioned the prospects for Amgen’s olpasiran, which remains in a large late-stage heart-outcomes study. Novartis cholesterol drug setback
- Negative Sentiment: BMO downgraded Amgen to Market Perform from Outperform, citing a less favorable risk-reward balance and limited near-term upside. Broader market pressure from higher oil prices, inflation concerns and interest-rate uncertainty has added to selling pressure. BMO Amgen downgrade
Insider Buying and Selling
In related news, SVP Nancy Grygiel sold 2,970 shares of the firm’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 of the company’s stock, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $521,370.36. Following the transaction, the senior vice president owned 6,404 shares of the company’s stock, valued at $2,666,817.72. The trade was a 16.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 6,222 shares of company stock worth $2,540,926. Insiders own 0.85% of the company’s stock.
Amgen 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 rare diseases. The company uses biologic research, genetics and other advanced technologies to develop treatments intended to address significant unmet medical needs.
Amgen’s medicines include Enbrel for certain inflammatory diseases; Prolia and Evenity for bone-related conditions; Xgeva for complications associated with cancer and bone disease; Repatha for cardiovascular risk reduction; Otezla for inflammatory conditions; and Aimovig for migraine prevention.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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