Amgen Inc. $AMGN Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,707,609 shares of the medical research company’s stock after selling 924,100 shares during the period. Amgen accounts for about 2.1% of Primecap Management Co. CA’s investment portfolio, making the stock its 11th biggest holding. Primecap Management Co. CA’s holdings in Amgen were worth $2,739,487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Legacy Investment Solutions LLC bought a new stake in Amgen during the 2nd quarter valued at $27,000. Evelyn Partners Investment Management LLP bought a new position in shares of Amgen in the second quarter worth $32,000. Howard Hughes Medical Institute acquired a new position in shares of Amgen during the second quarter valued at $32,000. Quaker Wealth Management LLC raised its stake in shares of Amgen by 200.0% during the second 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 in the last quarter. Finally, Cloud Capital Management LLC bought a new stake in shares of Amgen during the third quarter valued at about $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on AMGN. Mizuho raised their target price on shares of Amgen from $280.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, February 10th. Argus increased their price objective on shares of Amgen from $360.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 6th. Morgan Stanley raised their price objective on shares of Amgen from $304.00 to $309.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. The Goldman Sachs Group boosted their target price on Amgen from $403.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Amgen from $285.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $351.76.

Amgen Stock Up 0.4%

NASDAQ AMGN opened at $384.33 on Thursday. Amgen Inc. has a 12 month low of $261.43 and a 12 month high of $387.49. The company has a market capitalization of $207.18 billion, a P/E ratio of 27.01, a PEG ratio of 3.79 and a beta of 0.46. The company’s 50 day simple moving average is $346.58 and its 200 day simple moving average is $318.34. The company has a debt-to-equity ratio of 5.78, a current ratio of 1.14 and a quick ratio of 0.90.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.76 by $0.53. The firm had revenue of $9.87 billion for the quarter, compared to analyst estimates of $9.46 billion. Amgen had a net margin of 20.98% and a return on equity of 148.37%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.31 earnings per share. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. Equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 13th will be given a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Amgen’s previous quarterly dividend of $2.38. The ex-dividend date of this dividend is Friday, February 13th. Amgen’s payout ratio is presently 70.84%.

About Amgen

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.