Elevation Point Wealth Partners LLC Acquires 4,062 Shares of Amgen Inc. $AMGN

Key Points

• Elevation Point Wealth Partners increased its Amgen position by 18.9% in the second quarter, purchasing 4,062 additional shares and bringing its holdings to 25,505 shares valued at approximately $9.24 million.
• Amgen reported quarterly earnings of $6.29 per share and revenue of $10.05 billion, exceeding analyst expectations and representing 9.5% year-over-year revenue growth.
• Analysts have raised several price targets, but the overall consensus remains “Hold” with an average target of $380.43. Amgen also declared a quarterly dividend of $2.52 per share, equivalent to a 2.3% annual yield.

Elevation Point Wealth Partners LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 18.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,505 shares of the medical research company's stock after buying an additional 4,062 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Amgen were worth $9,236,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Anfield Capital Management LLC grew its position in Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after acquiring an additional 70 shares during the last quarter. Dogwood Wealth Management LLC increased its stake in Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after purchasing an additional 55 shares during the period. Tower View Wealth Management LLC lifted its position in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after purchasing an additional 63 shares during the last quarter. Manning & Napier Advisors LLC lifted its position in shares of Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Amgen during the fourth quarter valued at $34,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AMGN shares. Royal Bank Of Canada upped their price target on shares of Amgen from $370.00 to $400.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Cantor Fitzgerald lifted their price objective on shares of Amgen from $350.00 to $400.00 and gave the company a "neutral" rating in a report on Tuesday, August 18th. BMO Capital Markets boosted their price objective on shares of Amgen from $400.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. UBS Group upped their target price on shares of Amgen from $420.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, TD Cowen raised their target price on shares of Amgen from $420.00 to $452.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $380.43.

Amgen Stock Performance

Shares of Amgen stock opened at $439.33 on Friday. 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's fifty day moving average price is $379.03 and its 200-day moving average price is $361.95. The firm has a market cap of $237.52 billion, a P/E ratio of 27.30, a P/E/G ratio of 3.17 and a beta of 0.41. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $443.20.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping analysts' consensus estimates of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same period in the prior year, the firm earned $6.02 earnings per share. The firm'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. On average, equities research analysts expect that Amgen Inc. will post 22.92 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued a $2.52 dividend. The ex-dividend date is Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.3%. Amgen's payout ratio is currently 62.65%.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,252 shares of the company's stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. This represents a 16.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,222 shares of company stock valued at $2,540,926 in the last ninety days. Corporate insiders own 0.85% of the company's stock.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Solid operating performance and dividend support the valuation. Amgen’s second-quarter results exceeded expectations, with revenue rising year over year and earnings per share topping consensus. Continued growth and the company’s dividend are helping support investor confidence. Amgen stock holds close to record high as Q2 2026 growth and dividend support valuation
• Positive Sentiment: Analysts raised their outlook. Argus increased its price target to $460 from $375 while maintaining a Buy rating, citing the latest quarterly performance and progress across Amgen’s drug portfolio. Separate reports also highlighted favorable forecasts from Mizuho and Cantor Fitzgerald, reinforcing the bullish analyst sentiment. Amgen gets a fresh target
• Positive Sentiment: Tarlatamab development advanced. Amgen’s Phase 3 DeLLphi-315 study is evaluating a subcutaneous injection of tarlatamab against the current intravenous infusion approach in lung cancer. A successful shot formulation could improve convenience and broaden the commercial potential of the drug. Amgen advances tarlatamab shot versus infusion in Phase 3 lung cancer study
• Positive Sentiment: Trading momentum and options activity were unusually strong. Amgen was identified as a momentum stock after a substantial recent share-price rally, while call-option volume surged well above typical levels, suggesting increased bullish positioning.
• Neutral Sentiment: Valuation is becoming a consideration. With the stock near its recent high and analysts raising targets, some commentary questioned whether much of the favorable news is already reflected in the share price, which could limit near-term upside.

Amgen Company 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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