Arini Capital Management Ltd Buys Shares of 20,000 Amgen Inc. $AMGN

Arini Capital Management Ltd purchased a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 20,000 shares of the medical research company's stock, valued at approximately $7,242,000. Amgen accounts for about 0.7% of Arini Capital Management Ltd's portfolio, making the stock its 17th largest position.

Other large investors have also recently made changes to their positions in the company. Windsor Advisory Group LLC acquired a new stake in Amgen during the second quarter worth approximately $260,000. Wallace Capital Management Inc. boosted its holdings in shares of Amgen by 62.9% in the 2nd quarter. Wallace Capital Management Inc. now owns 1,171 shares of the medical research company's stock valued at $424,000 after buying an additional 452 shares in the last quarter. Man Group plc grew its position in shares of Amgen by 64.2% in the 2nd quarter. Man Group plc now owns 234,023 shares of the medical research company's stock valued at $84,744,000 after buying an additional 91,498 shares during the last quarter. Western Wealth Management LLC grew its position in shares of Amgen by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 10,288 shares of the medical research company's stock valued at $3,726,000 after buying an additional 81 shares during the last quarter. Finally, Councilmark Asset Management LLC raised its stake in Amgen by 0.3% during the 2nd quarter. Councilmark Asset Management LLC now owns 10,011 shares of the medical research company's stock worth $3,625,000 after acquiring an additional 30 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Down 0.4%

Amgen stock opened at $440.34 on Thursday. Amgen Inc. has a twelve month low of $269.77 and a twelve month high of $447.03. The stock has a 50 day moving average of $384.76 and a two-hundred day moving average of $363.86. 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 stock has a market capitalization of $238.06 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 3.19 and a beta of 0.41.

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 business had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same quarter in the previous year, the company posted $6.02 earnings per share. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, research analysts expect that Amgen Inc. will post 22.92 earnings per share for the current year.

Amgen Announces Dividend

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 paid a $2.52 dividend. This represents a $10.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Amgen's payout ratio is currently 62.65%.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction dated 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 owned 7,340 shares of the company's stock, valued at $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the transaction, the senior vice president owned 6,404 shares in the company, valued at approximately $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMGN. Barclays boosted their price target on shares of Amgen from $360.00 to $380.00 and gave the company an "equal weight" rating in a research report on Friday, August 14th. UBS Group lifted their target price on Amgen from $420.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Freedom Capital raised Amgen from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Weiss Ratings upgraded Amgen from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 6th. Finally, Piper Sandler lifted their price target on Amgen from $427.00 to $457.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Amgen presently has a consensus rating of "Hold" and an average target price of $380.43.

Amgen 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.

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