Gateway Wealth Partners LLC Lowers Holdings in Amgen Inc. $AMGN

Gateway Wealth Partners LLC decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 40.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,558 shares of the medical research company’s stock after selling 1,765 shares during the period. Gateway Wealth Partners LLC’s holdings in Amgen were worth $926,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMGN. High Note Wealth LLC lifted its holdings in Amgen by 5.8% in the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock worth $166,000 after purchasing an additional 28 shares in the last quarter. TAGStone Capital Inc. boosted its stake in Amgen by 0.7% in the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock worth $1,351,000 after purchasing an additional 28 shares during the period. Verus Capital Partners LLC grew its holdings in Amgen by 2.3% during the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock valued at $403,000 after buying an additional 28 shares in the last quarter. Destination Wealth Management grew its holdings in Amgen by 2.1% during the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock valued at $456,000 after buying an additional 29 shares in the last quarter. Finally, Breakwater Capital Group raised its position in shares of Amgen by 1.4% during the first quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company’s stock valued at $717,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AMGN. Piper Sandler reissued an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Robert W. Baird boosted their price target on shares of Amgen from $215.00 to $230.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 5th. Guggenheim increased their price objective on shares of Amgen from $343.00 to $388.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, Morgan Stanley raised their price objective on Amgen from $333.00 to $351.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and an average price target of $372.39.

Amgen Trading Down 0.6%

AMGN stock opened at $415.21 on Friday. The firm has a fifty day moving average price of $370.57 and a 200 day moving average price of $358.93. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $421.79. 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 firm has a market cap of $224.47 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 3.86 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.62 by $0.67. The company had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. Amgen’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Sell-side analysts anticipate that Amgen Inc. will post 22.78 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio is currently 62.65%.

Insider Activity

In related news, SVP Rachna Khosla sold 1,252 shares of Amgen stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the business’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 value of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 over the last 90 days. Corporate insiders own 0.85% of the company’s stock.

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.