Legal & General Group Plc Cuts Holdings in Amgen Inc. $AMGN

Legal & General Group Plc trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,816,942 shares of the medical research company’s stock after selling 53,921 shares during the quarter. Legal & General Group Plc’s holdings in Amgen were worth $1,382,191,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Roman Butler Fullerton & Co. grew its holdings in Amgen by 1.4% during the 2nd quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company’s stock valued at $705,000 after buying an additional 27 shares in the last quarter. High Note Wealth LLC raised its holdings in shares of Amgen by 5.8% during the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock worth $166,000 after acquiring an additional 28 shares in the last quarter. TAGStone Capital Inc. raised its holdings in shares of Amgen by 0.7% during the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock worth $1,351,000 after acquiring an additional 28 shares in the last quarter. Verus Capital Partners LLC boosted its position in shares of 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 acquiring an additional 28 shares during the last quarter. Finally, Destination Wealth Management boosted its position in shares of 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 acquiring an additional 29 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on AMGN. Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Piper Sandler increased their price objective on shares of Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a research report on Thursday. TD Cowen lifted their price objective on shares of Amgen from $420.00 to $452.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Bank of America boosted their target price on shares of Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus price target of $380.43.

Insider Activity

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

Amgen Stock Performance

NASDAQ AMGN opened at $443.84 on Tuesday. The business’s 50 day moving average price is $380.90 and its 200-day moving average price is $362.81. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $445.87. The company has a market cap of $239.95 billion, a P/E ratio of 27.58, a P/E/G ratio of 3.17 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37.

Amgen (NASDAQ:AMGN) 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 analysts’ consensus estimates of $5.62 by $0.67. The company had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.Amgen’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Sell-side analysts predict that Amgen Inc. will post 22.92 earnings per share for the current year.

Amgen Announces Dividend

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

Amgen 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.