Palogic Value Management L.P. Takes Position in Amgen Inc. $AMGN

Key Points

• Palogic Value Management purchased 7,793 Amgen shares worth approximately $2.82 million, making AMGN about 0.9% of its portfolio. Institutional investors collectively own 76.5% of the stock.
• Amgen insiders sold 6,222 shares valued at roughly $2.54 million over the past 90 days, while company insiders own just 0.85% of outstanding shares.
• Amgen beat quarterly earnings and revenue estimates, reporting $6.29 in EPS and $10.05 billion in revenue. Analysts’ consensus rating is “Hold” with a $380.43 target price, and the company declared a quarterly dividend of $2.52 per share.

Palogic Value Management L.P. purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,793 shares of the medical research company's stock, valued at approximately $2,822,000. Amgen makes up approximately 0.9% of Palogic Value Management L.P.'s portfolio, making the stock its 23rd largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC raised its holdings in shares of Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after purchasing an additional 70 shares during the period. Dogwood Wealth Management LLC boosted its holdings in shares of Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after buying an additional 55 shares during the period. Tower View Wealth Management LLC grew its position in shares of Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after buying an additional 63 shares during the last quarter. Manning & Napier Advisors LLC grew its position in shares of Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after buying an additional 32 shares during the last quarter. Finally, Ares Financial Consulting LLC acquired a new stake in Amgen during the fourth quarter worth about $34,000. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,252 shares of the firm's stock in a transaction on 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 directly owned 6,404 shares of the company's stock, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $1,194,415.20. Following the sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 6,222 shares of company stock worth $2,540,926 in the last ninety days. 0.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AMGN shares. Morgan Stanley reissued an "overweight" rating and issued a $362.00 target price on shares of Amgen in a report on Wednesday, August 19th. Sanford C. Bernstein increased their price target on Amgen from $335.00 to $345.00 and gave the stock a "market perform" rating in a research report on Thursday, August 6th. Royal Bank Of Canada raised their price target on Amgen from $370.00 to $400.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Wells Fargo & Company boosted their price objective on Amgen from $390.00 to $400.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 5th. Finally, Oppenheimer upped their price objective on Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Amgen has an average rating of "Hold" and a consensus target price of $380.43.

Amgen Price Performance

NASDAQ AMGN opened at $440.34 on Thursday. The company has a 50-day moving average price of $384.76 and a two-hundred day moving average price of $363.86. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $447.03. The stock has a market cap of $238.06 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 3.19 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 (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. The company had revenue of $10.05 billion for the quarter, compared to analysts' expectations of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Analysts forecast that Amgen Inc. will post 22.92 EPS for the current year.

Amgen Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.3%. Amgen's payout ratio is presently 62.65%.

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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