Ferguson Wellman Capital Boosts Stake in Amgen by 4.8 Percent

Ferguson Wellman Capital Management Inc. increased its stake in Amgen Inc. (NASDAQ:AMGN) by 4.8% during the third quarter, according to a recent SEC filing. The institutional investor now holds 259,022 shares of Amgen's stock, valued at $103,614,000, making it the 20th largest holding in its portfolio. Several other institutional investors also adjusted their positions in Amgen during the second quarter, including Rational Advisors Inc., Beacon Financial Advisory LLC, Legacy Financial Advisors Inc., Roman Butler Fullerton & Co., and Round Rock Advisors LLC.

In related news, two Amgen senior vice presidents sold shares of the company's stock in August. Rachna Khosla sold 2,000 shares at an average price of $412.57, while Nancy Grygiel sold 2,970 shares at an average price of $402.16. Both transactions resulted in a significant reduction in their ownership stakes. Over the past 90 days, insiders have sold a total of 6,222 shares worth $2,540,926.

Wall Street analysts have recently weighed in on Amgen's stock. UBS Group reaffirmed a "buy" rating with a $430 price target, while Scotiabank raised its target price to $500 and maintained an "outperform" rating. Other analysts, such as Wells Fargo & Company and Canaccord Genuity Group, also adjusted their price targets and ratings. Currently, Amgen has a consensus "hold" rating with a target price of $385.25.

Amgen's stock has seen some volatility recently, with a 1-year low of $288.00 and a high of $447.03. The company reported strong earnings for the second quarter, beating analysts' estimates with $6.29 earnings per share and $10.05 billion in revenue. Amgen also announced a quarterly dividend of $2.52, representing a 2.5% yield on an annualized basis.