Cullinan Associates Inc. Sells 1,228 Shares of Amgen Inc. $AMGN

Cullinan Associates Inc. trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,288 shares of the medical research company’s stock after selling 1,228 shares during the period. Cullinan Associates Inc.’s holdings in Amgen were worth $8,795,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Anfield Capital Management LLC lifted its position in shares of Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 70 shares in the last quarter. Dogwood Wealth Management LLC boosted its stake in shares of Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after acquiring an additional 55 shares during the period. Tower View Wealth Management LLC grew its position in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Manning & Napier Advisors LLC grew its position in shares of Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Evergreen Advisors LLC bought a new stake in Amgen during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Tezspire expands its potential market. Amgen and AstraZeneca reported that Tezspire met both co-primary and all key secondary endpoints in the Phase 3 CROSSING study for eosinophilic esophagitis (EoE). Improvements in tissue inflammation and swallowing symptoms were statistically significant, clinically meaningful and sustained through 52 weeks. EoE could become Tezspire’s third approved indication, adding a potentially significant growth opportunity beyond asthma and chronic rhinosinusitis with nasal polyps. Tezspire Phase 3 EoE Results
• Positive Sentiment: Recent financial performance remains supportive. Amgen’s latest reported quarter exceeded analyst expectations for both earnings and revenue, with revenue increasing year over year. Strong results and full-year guidance have helped keep the stock near its 52-week high and provide a favorable backdrop for pipeline news. Amgen Earnings and Guidance
• Neutral Sentiment: Additional pipeline updates offer limited near-term valuation impact. Amgen provided updates on a pediatric psoriasis study involving apremilast and began a Phase 1 trial of AMG 691 aimed at markets in Asia. These programs may support long-term growth, but both remain too early to materially affect current earnings expectations. Amgen Pediatric Psoriasis Study
• Negative Sentiment: Amgen ended its Crohn’s disease research partnership with TScan Therapeutics. Terminating the collaboration removes an external source of potential inflammatory bowel disease assets and may raise questions about the company’s strategy in this research area. The impact is likely limited near term because the program was still focused on target discovery. Amgen Ends Crohn’s Research Partnership

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research analyst reports. Freedom Capital raised Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Truist Financial increased their price objective on shares of Amgen from $340.00 to $362.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Guggenheim lifted their price objective on shares of Amgen from $343.00 to $388.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Morgan Stanley reissued an “overweight” rating and issued a $362.00 target price on shares of Amgen in a report on Wednesday, August 19th. Finally, UBS Group upped their target price on shares of Amgen from $420.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $380.43.

Amgen Stock Performance

Amgen stock opened at $432.42 on Friday. The company’s 50-day moving average price is $388.64 and its 200-day moving average price is $364.71. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $447.03. 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 $233.78 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 3.12 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities research analysts forecast that Amgen Inc. will post 22.97 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be given a dividend of $2.52 per share. The ex-dividend date is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.3%. Amgen’s dividend payout ratio is 62.65%.

Insider Activity at Amgen

In other news, 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 transaction of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of the firm’s stock in a transaction on 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 sale, the senior vice president owned 6,404 shares of the company’s stock, valued at approximately $2,666,817.72. This represents a 16.35% 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 over the last ninety 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.