Primecap Management Co. CA Decreases Stock Position in Amgen Inc. $AMGN

Primecap Management Co. CA decreased its position in Amgen Inc. (NASDAQ:AMGN) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,707,609 shares of the medical research company’s stock after selling 924,100 shares during the quarter. Amgen accounts for about 2.1% of Primecap Management Co. CA’s investment portfolio, making the stock its 11th largest holding. Primecap Management Co. CA owned approximately 1.80% of Amgen worth $2,739,487,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC increased its stake in Amgen by 27,765.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock worth $1,870,880,000 after buying an additional 6,676,575 shares during the period. Norges Bank acquired a new stake in shares of Amgen during the second quarter valued at about $1,663,726,000. Vanguard Group Inc. grew its stake in shares of Amgen by 1.6% during the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock valued at $14,996,807,000 after acquiring an additional 841,117 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Amgen by 5.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock worth $3,600,043,000 after acquiring an additional 687,735 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Amgen by 248.1% in the second quarter. Jennison Associates LLC now owns 604,774 shares of the medical research company’s stock worth $168,859,000 after acquiring an additional 431,036 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of AMGN stock opened at $384.33 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 5.78. The business has a 50 day moving average of $346.58 and a two-hundred day moving average of $318.34. Amgen Inc. has a 52 week low of $261.43 and a 52 week high of $387.49. The company has a market cap of $207.18 billion, a P/E ratio of 27.01, a PEG ratio of 3.79 and a beta of 0.46.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, February 3rd. The medical research company reported $5.29 earnings per share for the quarter, topping analysts’ consensus estimates of $4.76 by $0.53. The business had revenue of $9.87 billion for 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%.The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $5.31 EPS. Amgen has set its FY 2026 guidance at 21.600-23.000 EPS. As a group, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 13th will be paid a $2.52 dividend. The ex-dividend date is Friday, February 13th. This is a positive change from Amgen’s previous quarterly dividend of $2.38. This represents a $10.08 dividend on an annualized basis and a yield of 2.6%. Amgen’s dividend payout ratio (DPR) is 70.84%.

Analyst Ratings Changes

AMGN has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Amgen in a research note on Monday, December 29th. Sanford C. Bernstein downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and set a $335.00 price target for the company. in a research report on Tuesday, January 20th. Guggenheim lifted their price target on shares of Amgen from $305.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Oppenheimer set a $400.00 price target on shares of Amgen and gave the company an “outperform” rating in a report on Thursday, January 29th. Finally, UBS Group raised their price objective on shares of Amgen from $380.00 to $390.00 and gave the stock a “buy” rating in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $351.76.

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.