Parallax Volatility Advisers L.P. purchased a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,354 shares of the medical research company's stock, valued at approximately $1,939,000.
Several other large investors have also recently added to or reduced their stakes in the company. Dogwood Wealth Management LLC boosted its stake in shares of Amgen by 275.0% in the fourth 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. Anfield Capital Management LLC raised its holdings 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 in the last quarter. Tower View Wealth Management LLC raised its holdings in Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after acquiring an additional 63 shares in the last quarter. Manning & Napier Advisors LLC lifted 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 acquiring an additional 32 shares during the period. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Amgen during the 4th quarter worth $34,000. Institutional investors own 76.50% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently commented on AMGN shares. Wells Fargo & Company boosted their price target on Amgen from $390.00 to $400.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 5th. Truist Financial lifted their price objective on shares of Amgen from $340.00 to $362.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Piper Sandler increased their price target on Amgen from $427.00 to $457.00 and gave the company an "overweight" rating in a research note on Thursday, August 20th. Royal Bank Of Canada increased their price target on Amgen from $370.00 to $400.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Finally, Canaccord Genuity Group boosted their price target on Amgen from $366.00 to $384.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus target price of $380.43.
View Our Latest Stock Analysis on AMGN
Amgen Trading Down 0.4%
NASDAQ AMGN opened at $440.34 on Thursday. The business's fifty day moving average is $384.76 and its 200-day moving average is $363.86. 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 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 Inc. has a one year low of $269.77 and a one year high of $447.03.
Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities research analysts predict that Amgen Inc. will post 22.92 EPS for the current year.
Amgen Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be paid a $2.52 dividend. The ex-dividend date is Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.3%. Amgen's dividend payout ratio is presently 62.65%.
Insider Buying and Selling at Amgen
In other news, SVP Rachna Khosla sold 2,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at $2,642,098.28. This represents a 23.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction on 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 transaction, 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 position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 6,222 shares of company stock valued at $2,540,926. 0.85% of the stock is owned by corporate insiders.
About Amgen
(
Free Report)
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.
See Also
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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