Talon Private Wealth LLC Cuts Position in Amgen Inc. $AMGN

Talon Private Wealth LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 53.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,434 shares of the medical research company’s stock after selling 1,652 shares during the period. Talon Private Wealth LLC’s holdings in Amgen were worth $519,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Amgen by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock worth $331,000 after purchasing an additional 114 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in Amgen by 29.3% in the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company’s stock worth $7,220,000 after purchasing an additional 5,853 shares during the period. Main Street Financial Solutions LLC boosted its holdings in Amgen by 11.3% in the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company’s stock worth $1,141,000 after purchasing an additional 416 shares during the period. Finally, Ieq Capital LLC increased its stake in Amgen by 5.1% during the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock valued at $15,120,000 after purchasing an additional 2,611 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMGN. UBS Group increased their target price on shares of Amgen from $420.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Canaccord Genuity Group boosted their price objective on shares of Amgen from $366.00 to $384.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. HSBC lowered shares of Amgen from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $445.00 to $425.00 in a research note on Thursday. Citigroup lifted their target price on Amgen from $345.00 to $405.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group set a $389.00 target price on Amgen in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $381.68.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: A late-stage study found that combining Amgen’s Imdelltra with AstraZeneca’s Imfinzi significantly improved overall survival for patients with extensive-stage small-cell lung cancer. The results could expand Imdelltra’s use into earlier-line treatment and strengthen Amgen’s oncology growth prospects. AMGN, AZN Drug Combo Shows Survival Benefit in Lung Cancer Study
• Positive Sentiment: Analysts and financial commentators continue to highlight Amgen’s profitability, multi-billion-dollar revenue base, cash generation and growing dividend as advantages over loss-making biotechnology companies such as Revolution Medicines, CRISPR Therapeutics and Moderna. This supports the stock’s appeal to income-oriented and more defensive investors. Amgen vs. Revolution Medicines
• Positive Sentiment: TD Cowen maintained its Buy rating, while another analysis characterized the recent selloff as an opportunity. Amgen also announced a Phase 4 Repatha plaque study, potentially generating additional evidence for the cardiovascular drug’s long-term value. Amgen: Buy the Novartis-Driven Selloff
• Neutral Sentiment: Cantor Fitzgerald reaffirmed a Neutral rating, and Amgen’s Wells Fargo healthcare conference presentation offered investors additional management commentary but no clearly identified major guidance change. Cantor Fitzgerald Reaffirms Neutral Rating
• Negative Sentiment: Amgen sold off after Novartis reported disappointing results for its pelacarsen cholesterol trial. Although pelacarsen is not Amgen’s drug and differs mechanistically from Amgen’s olpasiran and Repatha, the failure raised broader concerns about cardiovascular drug development and temporarily pressured AMGN. Analysts have generally left their price targets intact. Amgen Falls as Novartis Trial Failure Clouds Cholesterol Drug Class
• Negative Sentiment: Unusually heavy put-option activity, with reported purchases far above average, signaled increased near-term hedging or bearish speculation. Investors are also monitoring declining Prolia and XGEVA sales from biosimilar competition and the margin pressure associated with funding MariTide. Amgen Drops on a Trial It Did Not Run

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the transaction, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,642,098.28. This represents a 23.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Nancy Grygiel sold 2,970 shares of the firm’s stock in a transaction that occurred on 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 6,222 shares of company stock valued at $2,540,926. Insiders own 0.85% of the company’s stock.

Amgen Stock Down 1.3%

AMGN stock opened at $377.35 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $447.03. The firm’s 50-day simple moving average is $400.37 and its 200 day simple moving average is $367.91. The stock has a market cap of $204.01 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.76 and a beta of 0.43.

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. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same period in the previous year, the business posted $6.02 EPS. Amgen’s revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 22.94 EPS for the current year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 21st were given a dividend of $2.52 per share. The ex-dividend date was Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.7%. Amgen’s payout ratio is currently 62.65%.

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and rare diseases. The company uses biologic research, genetics and other advanced technologies to develop treatments intended to address significant unmet medical needs.

Amgen’s medicines include Enbrel for certain inflammatory diseases; Prolia and Evenity for bone-related conditions; Xgeva for complications associated with cancer and bone disease; Repatha for cardiovascular risk reduction; Otezla for inflammatory conditions; and Aimovig for migraine prevention.