Proficio Capital Partners LLC Makes New Investment in Amgen Inc. $AMGN

Key Points

• Proficio Capital Partners purchased 6,520 Amgen shares worth approximately $2.36 million in the second quarter. Institutional investors collectively own 76.5% of the company, although insiders sold 6,222 shares worth $2.54 million during the last quarter.
• Amgen reported quarterly earnings of $6.29 per share and revenue of $10.05 billion, exceeding analyst estimates; revenue increased 9.5% year over year. Shares opened at $440.34, near the company’s 52-week high of $447.03.
• The company declared a quarterly dividend of $2.52 per share, equal to $10.08 annually and a 2.3% yield. Wall Street’s consensus rating is “Hold,” with an average price target of $380.43, below the current share price.

Proficio Capital Partners LLC 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 SEC. The institutional investor purchased 6,520 shares of the medical research company's stock, valued at approximately $2,361,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Brighton Jones LLC lifted its holdings in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares during the period. Sivia Capital Partners LLC increased its position in shares of Amgen by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock valued at $331,000 after purchasing an additional 114 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of Amgen by 29.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock worth $7,220,000 after purchasing an additional 5,853 shares during the period. Main Street Financial Solutions LLC boosted its holdings in shares of Amgen by 11.3% in the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock worth $1,141,000 after buying an additional 416 shares during the last quarter. Finally, Ieq Capital LLC boosted its holdings in shares of Amgen by 5.1% in the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock worth $15,120,000 after buying an additional 2,611 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the company's 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 completion of the transaction, the senior vice president owned 7,340 shares of the company's stock, valued at $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Rachna Khosla sold 1,252 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the sale, the senior vice president owned 6,404 shares of the company's stock, valued at $2,666,817.72. This represents a 16.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,222 shares of company stock valued at $2,540,926 in the last quarter. 0.85% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $440.34 on Thursday. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $447.03. The company has a market capitalization of $238.06 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.19 and a beta of 0.41. The firm's 50 day simple moving average is $384.76 and its two-hundred day simple moving average is $363.86.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $10.05 billion during 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 was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Research analysts expect that Amgen Inc. will post 22.92 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be issued a $2.52 dividend. 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 dividend payout ratio is currently 62.65%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America upped their target price on shares of Amgen from $312.00 to $317.00 and gave the company an "underperform" rating in a report on Wednesday, August 5th. Piper Sandler lifted their price target on shares of Amgen from $427.00 to $457.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. Sanford C. Bernstein boosted their price objective 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. BMO Capital Markets raised their target price on Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Finally, Scotiabank lifted their target price on Amgen from $385.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Amgen currently has an average rating of "Hold" and an average price target of $380.43.

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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