Cullinan Associates Inc. Reduces Position in Amgen Inc. $AMGN

Cullinan Associates Inc. decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.8% during the second quarter, HoldingsChannel reports. The institutional investor 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 quarter.

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

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the completion of the transaction, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The sale 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 stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is owned by corporate insiders.

Key Stories Impacting Amgen

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

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $432.42 on Friday. The company has a market capitalization of $233.78 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 3.12 and a beta of 0.41. Amgen Inc. has a 52 week low of $269.77 and a 52 week 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 firm has a 50 day moving average of $388.64 and a 200 day moving average of $364.71.

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 business had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, sell-side analysts predict that Amgen Inc. will post 22.97 earnings per share for the current fiscal year.

Amgen Announces Dividend

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

Analysts Set New Price Targets

AMGN has been the topic of a number of research analyst reports. Mizuho upped their price target on shares of Amgen from $303.00 to $352.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. Morgan Stanley reiterated an “overweight” rating and set a $362.00 price objective on shares of Amgen in a report on Wednesday, August 19th. Wells Fargo & Company boosted their price objective on shares of Amgen from $390.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald upped their target price on shares of Amgen from $350.00 to $400.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. Finally, Sanford C. Bernstein upped their target price on shares of Amgen from $335.00 to $345.00 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $380.43.

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.