Evolve Private Wealth LLC Sells 3,508 Shares of Amgen Inc. $AMGN

Evolve Private Wealth LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 63.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,980 shares of the medical research company’s stock after selling 3,508 shares during the quarter. Evolve Private Wealth LLC’s holdings in Amgen were worth $717,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $2,164,162,000. Capital World Investors boosted its stake in Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after acquiring an additional 4,302,237 shares during the last quarter. BlackRock Inc. grew its holdings in Amgen by 4.8% during the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after purchasing an additional 2,261,544 shares during the period. State Street Corp grew its holdings in Amgen by 4.4% during the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after purchasing an additional 1,287,310 shares during the period. Finally, Geode Capital Management LLC increased its stake in Amgen by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after purchasing an additional 1,035,779 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 1.0%

Amgen stock opened at $443.84 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $445.87. The company has a fifty day simple moving average of $380.90 and a 200 day simple moving average of $362.81. The company has a market cap of $239.95 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 3.17 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. During the same period in the previous year, the firm posted $6.02 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Research analysts anticipate that Amgen Inc. will post 22.92 earnings per share for the current fiscal year.

Amgen Dividend Announcement

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

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president owned 6,404 shares in the company, valued at $2,642,098.28. This represents a 23.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 2,970 shares of the company’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 owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,222 shares of company stock valued at $2,540,926 over the last three months. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMGN shares. Freedom Capital raised Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. TD Cowen boosted their target price on Amgen from $420.00 to $452.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Robert W. Baird increased their price target on Amgen from $215.00 to $230.00 and gave the stock an “underperform” rating in a report on Wednesday, August 5th. Argus lifted their price objective on Amgen from $375.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Finally, Royal Bank Of Canada boosted their price objective on Amgen from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $380.43.

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.