Amgen Inc. $AMGN Shares Acquired by Trajan Wealth LLC

Key Points

• Trajan Wealth increased its Amgen position by 38.5% in the second quarter, bringing its holdings to 24,096 shares valued at approximately $8.7 million. Institutional investors and hedge funds collectively own 76.5% of Amgen.
• Analysts raised several price targets, including BMO Capital Markets’ increase to $450, but the overall consensus remains a “Hold” rating with an average target price of $380.43.
• Amgen reported quarterly earnings of $6.29 per share and revenue of $10.05 billion, exceeding expectations, while announcing a quarterly dividend of $2.52 per share, representing a 2.3% annualized yield.

Trajan Wealth LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 38.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,096 shares of the medical research company's stock after buying an additional 6,700 shares during the quarter. Trajan Wealth LLC's holdings in Amgen were worth $8,726,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Adell Harriman & Carpenter Inc. lifted its position in Amgen by 7.9% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock valued at $7,204,000 after buying an additional 1,609 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Amgen during the fourth quarter valued at about $22,441,000. Sigma Planning Corp increased its position in shares of Amgen by 24.0% during the fourth quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company's stock valued at $5,889,000 after acquiring an additional 3,488 shares during the last quarter. National Pension Service raised its stake in shares of Amgen by 4.7% in the 4th quarter. National Pension Service now owns 1,239,549 shares of the medical research company's stock valued at $405,717,000 after acquiring an additional 55,489 shares during the period. Finally, Integrated Advisors Network LLC raised its stake in shares of Amgen by 50.5% in the 1st quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company's stock valued at $6,664,000 after acquiring an additional 6,356 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AMGN shares. Barclays increased their price objective on shares of Amgen from $360.00 to $380.00 and gave the stock an "equal weight" rating in a research report on Friday, August 14th. BMO Capital Markets boosted their target price on Amgen from $400.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Truist Financial upped their price target on Amgen from $340.00 to $362.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Canaccord Genuity Group raised their price target on Amgen from $366.00 to $384.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Finally, Erste Group Bank reaffirmed a "hold" rating on shares of Amgen in a research note on Tuesday, May 5th. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $380.43.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the sale, the senior vice president directly owned 6,404 shares in the company, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares of the company's stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 over the last 90 days. Company insiders own 0.85% of the company's stock.

Amgen Stock Performance

Shares of Amgen stock opened at $443.84 on Tuesday. Amgen Inc. has a one year low of $269.77 and a one year high of $445.87. The company has a market cap of $239.95 billion, a PE ratio of 27.58, a P/E/G ratio of 3.17 and a beta of 0.41. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37. The business has a 50-day simple moving average of $380.90 and a 200-day simple moving average of $362.81.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $9.43 billion. During the same quarter last year, the company earned $6.02 earnings per share. The firm's revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities research analysts forecast that Amgen Inc. will post 22.92 EPS for the current fiscal year.

Amgen Dividend Announcement

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

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.

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