Global Retirement Partners LLC Takes $8.88 Million Position in Amgen Inc. $AMGN

Key Points

• Global Retirement Partners purchased 24,522 Amgen shares worth approximately $8.88 million in the second quarter. Institutional investors collectively own 76.5% of the company.
• Amgen reported quarterly EPS of $6.29, beating estimates by $0.67, while revenue rose 9.5% year over year to $10.05 billion. The company also declared a quarterly dividend of $2.52, representing a 2.4% annualized yield.
• Analysts raised several price targets, with UBS, Scotiabank and Oppenheimer setting targets of $440 to $450, although MarketBeat’s consensus rating remains Hold with a $372.39 target. Insiders sold more than $2.5 million of stock over the past three months.

Global Retirement Partners LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 24,522 shares of the medical research company's stock, valued at approximately $8,880,000.

Several other institutional investors have also bought and sold shares of AMGN. Focus Partners Advisor Solutions LLC increased its position in Amgen by 19.4% in the second quarter. Focus Partners Advisor Solutions LLC now owns 6,527 shares of the medical research company's stock worth $2,364,000 after buying an additional 1,060 shares during the last quarter. Kelleher Financial Advisors increased its holdings in Amgen by 96.4% in the 2nd quarter. Kelleher Financial Advisors now owns 5,256 shares of the medical research company's stock worth $1,903,000 after acquiring an additional 2,580 shares during the last quarter. GSA Capital Partners LLP raised its stake in Amgen by 102.1% in the 2nd quarter. GSA Capital Partners LLP now owns 2,641 shares of the medical research company's stock valued at $956,000 after acquiring an additional 1,334 shares during the period. Maridea Wealth Management LLC raised its stake in Amgen by 12.2% in the 2nd quarter. Maridea Wealth Management LLC now owns 709 shares of the medical research company's stock valued at $257,000 after acquiring an additional 77 shares during the period. Finally, Ridgecrest Wealth Partners LLC lifted its holdings in Amgen by 2.5% during the second quarter. Ridgecrest Wealth Partners LLC now owns 4,325 shares of the medical research company's stock valued at $1,566,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $419.38 on Tuesday. The stock has a market cap of $226.73 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 3.86 and a beta of 0.41. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $421.79. The stock's 50-day moving average is $372.05 and its 200 day moving average is $359.47.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business's revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, sell-side analysts anticipate that Amgen Inc. will post 22.78 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, August 21st. Amgen's dividend payout ratio (DPR) is presently 62.65%.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the business'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 completion of the sale, the senior vice president directly 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 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 company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the sale, the senior vice president owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 6,222 shares of company stock valued at $2,540,926 over the last three months. 0.85% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMGN. Sanford C. Bernstein boosted their price target on shares of Amgen from $335.00 to $345.00 and gave the company a "market perform" rating in a research report on Thursday, August 6th. UBS Group boosted their target price on shares of Amgen from $420.00 to $440.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Scotiabank raised their price target on Amgen from $385.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Truist Financial boosted their price objective on Amgen from $340.00 to $362.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Finally, Oppenheimer increased their price objective on Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $372.39.

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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