Amgen Inc. $AMGN Stock Purchased by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions increased its Amgen stake by 15% in the second quarter, bringing its holdings to 24,293 shares valued at approximately $8.8 million. Institutional investors collectively own 76.5% of Amgen’s outstanding stock.
• Analyst sentiment remains mixed: Amgen has an overall “Hold” consensus rating with an average price target of $383.46, despite recent target increases from Argus and TD Cowen.
• Amgen exceeded quarterly expectations, reporting $6.29 in EPS and $10.05 billion in revenue, while revenue rose 9.5% year over year. The company also declared a quarterly dividend of $2.52, equivalent to a 2.5% annual yield.

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,293 shares of the medical research company's stock after acquiring an additional 3,169 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Amgen were worth $8,797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Baird Financial Group Inc. boosted its holdings in Amgen by 1.6% in the second quarter. Baird Financial Group Inc. now owns 339,825 shares of the medical research company's stock worth $123,057,000 after purchasing an additional 5,496 shares in the last quarter. Integrated Advisors Network LLC increased 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 buying an additional 6,356 shares during the last quarter. KBC Group NV raised its holdings in Amgen by 51.7% during the second quarter. KBC Group NV now owns 382,676 shares of the medical research company's stock valued at $138,574,000 after buying an additional 130,497 shares in the last quarter. National Pension Service raised its holdings in Amgen by 4.7% during the fourth quarter. National Pension Service now owns 1,239,549 shares of the medical research company's stock valued at $405,717,000 after buying an additional 55,489 shares in the last quarter. Finally, MW Advisory LLC acquired a new stake in shares of Amgen in the second quarter worth about $1,054,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMGN. Argus increased their price objective on Amgen from $375.00 to $460.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Bank of America boosted their target price on Amgen from $312.00 to $317.00 and gave the stock an "underperform" rating in a report on Wednesday, August 5th. Truist Financial upped their target price on Amgen from $340.00 to $362.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Robert W. Baird increased their price target on Amgen from $215.00 to $230.00 and gave the company an "underperform" rating in a report on Wednesday, August 5th. Finally, TD Cowen lifted their price target on shares of Amgen from $420.00 to $452.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $383.46.

Amgen Price Performance

NASDAQ AMGN opened at $406.04 on Friday. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $447.03. 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 stock has a market capitalization of $219.52 billion, a PE ratio of 25.24, a P/E/G ratio of 2.96 and a beta of 0.43. The stock has a 50-day simple moving average of $405.16 and a 200 day simple moving average of $368.54.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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 return on equity of 124.14% and a net margin of 22.95%.The firm had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same quarter last year, the firm posted $6.02 EPS. The company'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. Research analysts anticipate that Amgen Inc. will post 22.94 EPS for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were issued a $2.52 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.5%. Amgen's dividend payout ratio is 62.65%.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy Grygiel sold 2,970 shares of the firm's stock in a transaction 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 sale, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of the business's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their position. The SEC filing for this sale provides additional information. 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.

Key Headlines Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported positive topline Phase 3 OASIZ 301 results for dazodalibep in adults with moderate-to-severe systemic Sjögren’s disease. The treatment produced statistically significant and clinically meaningful improvements in disease activity that were sustained through Week 48, with mostly mild-to-moderate side effects. The potential to become a first-in-class treatment in an area with no approved disease-modifying therapies is strengthening expectations for Amgen’s pipeline and future growth. Amgen Announces Positive Topline Phase 3 Results
• Positive Sentiment: Jefferies raised its price target for AMGN to $410 from $367 following the Sjögren’s results, while Goldman Sachs maintained a Buy rating and $450 target, citing pipeline strength and long-term growth potential. Jefferies Raises Amgen Price Target
• Positive Sentiment: UPLIZNA, Amgen’s autoimmune therapy, is expected to benefit from additional indications, international expansion, differentiated CD19 targeting and twice-yearly dosing. These factors could create another source of growth, although competition is increasing. UPLIZNA Market Growth Outlook

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.

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