Amgen Inc. $AMGN Shares Sold by Avity Investment Management Inc.

Avity Investment Management Inc. cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 70,921 shares of the medical research company’s stock after selling 2,452 shares during the quarter. Amgen makes up 1.6% of Avity Investment Management Inc.’s holdings, making the stock its 26th largest position. Avity Investment Management Inc.’s holdings in Amgen were worth $23,213,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMGN. Norges Bank acquired a new stake in Amgen during the 2nd quarter worth $1,663,726,000. Capital World Investors boosted its stake in shares of Amgen by 11.5% during the third quarter. Capital World Investors now owns 18,795,474 shares of the medical research company’s stock worth $5,303,578,000 after buying an additional 1,935,876 shares during the period. National Bank of Canada FI grew its holdings in shares of Amgen by 237.7% during the third quarter. National Bank of Canada FI now owns 1,226,372 shares of the medical research company’s stock worth $346,076,000 after buying an additional 863,216 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Amgen by 71.8% during the third quarter. Van ECK Associates Corp now owns 1,358,092 shares of the medical research company’s stock worth $383,254,000 after buying an additional 567,400 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its position in Amgen by 367.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 490,457 shares of the medical research company’s stock valued at $136,940,000 after acquiring an additional 385,517 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the company. BMO Capital Markets upped their price objective on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Truist Financial upped their price target on Amgen from $318.00 to $319.00 and gave the stock a “hold” rating in a research note on Thursday, January 8th. Jefferies Financial Group assumed coverage on Amgen in a report on Tuesday, March 10th. They set a “hold” rating and a $350.00 price target for the company. Finally, UBS Group lifted their price objective on shares of Amgen from $380.00 to $390.00 and gave the company a “buy” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $354.60.

Amgen Stock Performance

AMGN opened at $348.77 on Friday. Amgen Inc. has a 1-year low of $261.43 and a 1-year high of $391.29. The stock has a market cap of $188.01 billion, a P/E ratio of 24.51, a P/E/G ratio of 3.50 and a beta of 0.45. The stock’s 50 day simple moving average is $362.59 and its 200 day simple moving average is $329.87. 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 issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $9.46 billion. Amgen had a return on equity of 148.37% and a net margin of 20.98%.Amgen’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $5.31 earnings per share. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be paid a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, May 15th. Amgen’s payout ratio is 70.84%.

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.