Kelleher Financial Advisors Buys 2,580 Shares of Amgen Inc. $AMGN

Key Points

• Kelleher Financial Advisors nearly doubled its Amgen position in the second quarter, purchasing 2,580 additional shares to hold 5,256 shares worth approximately $1.9 million. Institutional investors collectively own 76.5% of the company.
• Analysts maintain a mixed view of Amgen, with a consensus rating of “Hold” and an average price target of $372.39, below the stock’s reported $419.38 price.
• Amgen exceeded quarterly expectations, reporting $6.29 in adjusted earnings per share and $10.05 billion in revenue, while announcing a quarterly dividend of $2.52 per share, equivalent to a 2.4% annualized yield.

Kelleher Financial Advisors lifted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 96.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,256 shares of the medical research company's stock after purchasing an additional 2,580 shares during the period. Kelleher Financial Advisors' holdings in Amgen were worth $1,903,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Mizuho lifted their price objective on shares of Amgen from $295.00 to $303.00 and gave the company a "neutral" rating in a report on Tuesday, June 16th. Sanford C. Bernstein upped their target price on Amgen from $335.00 to $345.00 and gave the stock a "market perform" rating in a report on Thursday, August 6th. Argus lowered their target price on Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Morgan Stanley increased their target price on Amgen from $333.00 to $351.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 5th. Finally, Daiwa Securities Group cut their price target on Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Amgen has an average rating of "Hold" and a consensus price target of $372.39.

Amgen Price Performance

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

Amgen (NASDAQ:AMGN - Get Free Report) last issued 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 firm had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.Amgen's revenue for the quarter was up 9.5% on a year-over-year basis. 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. As a group, equities research analysts forecast that Amgen Inc. will post 22.78 earnings per share for the current year.

Amgen Announces Dividend

The firm 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 dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, August 21st. Amgen's payout ratio is presently 62.65%.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,252 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the transaction, the senior vice president directly owned 6,404 shares in the company, valued at $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 over the last ninety days. Insiders own 0.85% of the company's stock.

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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