Amgen Inc. $AMGN Holdings Lifted by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 79.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,657 shares of the medical research company’s stock after buying an additional 2,061 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Amgen were worth $1,963,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Rational Advisors Inc. increased its holdings in shares of Amgen by 13.7% in the 2nd quarter. Rational Advisors Inc. now owns 199 shares of the medical research company’s stock valued at $72,000 after purchasing an additional 24 shares during the period. Beacon Financial Advisory LLC boosted its holdings in shares of Amgen by 2.0% during the second quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company’s stock worth $461,000 after purchasing an additional 25 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in shares of Amgen by 0.8% during the second quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company’s stock worth $1,234,000 after purchasing an additional 26 shares during the period. Roman Butler Fullerton & Co. boosted its holdings in shares of Amgen by 1.4% during the second quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company’s stock worth $705,000 after purchasing an additional 27 shares during the period. Finally, Round Rock Advisors LLC grew its position in Amgen by 2.9% during the second quarter. Round Rock Advisors LLC now owns 1,003 shares of the medical research company’s stock valued at $363,000 after purchasing an additional 28 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the topic of several research reports. TD Cowen upped their price objective on shares of Amgen from $420.00 to $452.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Morgan Stanley decreased their target price on shares of Amgen from $362.00 to $359.00 and set an “equal weight” rating for the company in a research note on Wednesday. Sanford C. Bernstein boosted their price target on shares of Amgen from $335.00 to $345.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Oppenheimer reaffirmed an “outperform” rating on shares of Amgen in a research note on Wednesday, September 23rd. Finally, Guggenheim increased their price objective on Amgen from $343.00 to $388.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $388.29.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen is advancing a Phase 3 head-to-head trial of its monthly diabetes treatment, MariTide, against semaglutide-based therapy. A successful study could strengthen Amgen’s position in the highly competitive GLP-1 and obesity-treatment markets and provide a significant future growth opportunity. Amgen’s Monthly Diabetes Shot Takes Aim at Semaglutide in New Phase 3 Trial
• Positive Sentiment: Amgen’s recently announced Sjögren’s syndrome trial results appear to have supported investor sentiment, contributing to gains in the prior session. Further details on efficacy and regulatory plans will determine the longer-term impact. Amgen Announces Sjögren’s Trial Results
• Neutral Sentiment: Amgen participated in Arboretum LifeSciences’ $30 million Series A financing for AI-driven genetic testing. The investment may give Amgen access to molecular data useful for precision-medicine research, but it is unlikely to materially affect near-term earnings. Amgen Backs $30 Million Series A Round
• Neutral Sentiment: AMGN advanced about 2.6% in the prior session while the broader market declined, suggesting recent relative strength; however, this move may also have increased the potential for profit-taking. Amgen Advances While Market Declines
• Negative Sentiment: Morgan Stanley cut its price target to $359 from $362 and maintained an Equal Weight rating. Truist raised its target to $380 but kept a Hold rating. Both targets imply downside from Amgen’s recent price, reinforcing valuation concerns. Morgan Stanley Adjusts Price Target on Amgen

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the sale, the senior vice president owned 6,404 shares of the company’s stock, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy Grygiel sold 2,970 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 in the last 90 days. 0.85% of the stock is owned by insiders.

Amgen Trading Down 1.4%

NASDAQ:AMGN opened at $407.44 on Friday. The stock’s 50 day moving average price is $412.35 and its 200 day moving average price is $371.88. Amgen Inc. has a 52 week low of $288.00 and a 52 week high of $447.03. The company has a market capitalization of $220.27 billion, a P/E ratio of 25.32, a P/E/G ratio of 2.98 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 posted its 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 firm had revenue of $10.05 billion during 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 company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, research analysts forecast that Amgen Inc. will post 22.94 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were issued a dividend of $2.52 per share. The ex-dividend date was Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.5%. Amgen’s dividend payout ratio (DPR) is currently 62.65%.

About Amgen

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen’s portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.