Amgen Inc. $AMGN Shares Purchased by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer & Co. increased its Amgen stake by 2.8% in the second quarter, bringing its holdings to 123,217 shares valued at approximately $44.6 million. Institutional investors and hedge funds collectively own 76.5% of the stock.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $372.39, despite several firms raising targets to $450 and issuing “Outperform” ratings.
• Amgen reported quarterly EPS of $6.29 and revenue of $10.05 billion, exceeding expectations, while declaring a quarterly dividend of $2.52 per share, equivalent to a 2.4% annual yield. Two senior vice presidents also sold shares recently.

Oppenheimer & Co. Inc. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,217 shares of the medical research company's stock after acquiring an additional 3,376 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Amgen were worth $44,619,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Adell Harriman & Carpenter Inc. grew its position in shares of Amgen by 7.9% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company's stock valued at $7,204,000 after acquiring an additional 1,609 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Amgen in the 4th quarter valued at about $22,441,000. Sigma Planning Corp raised its holdings in Amgen by 24.0% in the 4th quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company's stock worth $5,889,000 after purchasing an additional 3,488 shares during the period. National Pension Service raised its holdings in Amgen by 4.7% in the 4th quarter. National Pension Service now owns 1,239,549 shares of the medical research company's stock worth $405,717,000 after purchasing an additional 55,489 shares during the period. Finally, Integrated Advisors Network LLC boosted its position in Amgen by 50.5% during the first quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company's stock worth $6,664,000 after purchasing an additional 6,356 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the topic of several research analyst reports. Mizuho raised their price objective on Amgen from $295.00 to $303.00 and gave the company a "neutral" rating in a report on Tuesday, June 16th. BMO Capital Markets upped their target price on Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Oppenheimer increased 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. Scotiabank lifted their price target on shares of Amgen from $385.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Finally, Piper Sandler reissued an "overweight" rating on shares of Amgen in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $372.39.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction on Thursday, August 6th. The stock was 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 of the company's stock, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were 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 owned 6,404 shares in the company, valued at $2,642,098.28. The trade was a 23.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by corporate insiders.

Amgen Price Performance

NASDAQ:AMGN opened at $415.21 on Friday. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $421.79. The stock has a 50 day moving average of $370.57 and a two-hundred day moving average of $358.93. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The firm has a market cap of $224.47 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 3.88 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. The business had revenue of $10.05 billion during 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 was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, analysts expect that Amgen Inc. will post 22.78 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 21st. Amgen's payout ratio is presently 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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