Rhumbline Advisers Lowers Stock Holdings in Amgen Inc. $AMGN

Rhumbline Advisers reduced its position in Amgen Inc. (NASDAQ:AMGN) by 0.7% in the third quarter, Holdings Channel.com reports. The firm owned 958,150 shares of the medical research company’s stock after selling 6,685 shares during the quarter. Rhumbline Advisers’ holdings in Amgen were worth $270,390,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of AMGN. Legacy Investment Solutions LLC bought a new position in Amgen during the second quarter valued at approximately $27,000. Evelyn Partners Investment Management LLP purchased a new stake in shares of Amgen in the 2nd quarter valued at $32,000. Howard Hughes Medical Institute bought a new position in shares of Amgen during the 2nd quarter valued at $32,000. Quaker Wealth Management LLC grew its holdings in shares of Amgen by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 120 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 240 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Amgen in the 3rd quarter worth $34,000. 76.50% of the stock is currently owned by institutional investors.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 3,139 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $337.26, for a total value of $1,058,659.14. Following the sale, the senior vice president directly owned 7,225 shares of the company’s stock, valued at $2,436,703.50. This represents a 30.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMGN. Sanford C. Bernstein cut Amgen from an “outperform” rating to a “market perform” rating and set a $335.00 price objective on the stock. in a research note on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft increased their target price on Amgen from $285.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Daiwa Securities Group boosted their price objective on Amgen from $370.00 to $410.00 and gave the company an “outperform” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a research note on Monday, December 29th. Finally, Scotiabank initiated coverage on shares of Amgen in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $385.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $353.39.

Amgen Stock Down 3.0%

Shares of NASDAQ AMGN opened at $364.65 on Wednesday. The firm has a fifty day simple moving average of $335.74 and a two-hundred day simple moving average of $312.39. Amgen Inc. has a 12 month low of $261.43 and a 12 month high of $385.12. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 5.78. The firm has a market capitalization of $196.36 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 3.85 and a beta of 0.46.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.46 billion. During the same quarter in the previous year, the company earned $5.31 earnings per share. Amgen’s quarterly revenue was up 8.6% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. Equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 13th will be given a dividend of $2.52 per share. This is a boost from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, February 13th. Amgen’s dividend payout ratio is presently 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.