Pure Financial Advisors LLC Makes New $2.89 Million Investment in Amgen Inc. $AMGN

Pure Financial Advisors LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,972 shares of the medical research company's stock, valued at approximately $2,887,000.

Several other large investors have also modified their holdings of the company. Roman Butler Fullerton & Co. increased its holdings in shares of Amgen by 1.4% in the 2nd quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company's stock valued at $705,000 after acquiring an additional 27 shares during the period. High Note Wealth LLC boosted its stake in shares of Amgen by 5.8% during the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock worth $166,000 after buying an additional 28 shares during the period. TAGStone Capital Inc. raised its stake in Amgen by 0.7% during the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock valued at $1,351,000 after acquiring an additional 28 shares during the last quarter. Verus Capital Partners LLC lifted its position in Amgen by 2.3% during the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock worth $403,000 after acquiring an additional 28 shares during the period. Finally, Destination Wealth Management lifted its position in Amgen by 2.1% during the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company's stock worth $456,000 after acquiring an additional 29 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent research reports. Wall Street Zen raised Amgen from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Truist Financial upped their price objective on shares of Amgen from $340.00 to $362.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Morgan Stanley reaffirmed an "overweight" rating and issued a $362.00 target price on shares of Amgen in a report on Wednesday, August 19th. Oppenheimer boosted their price target on shares of Amgen from $400.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Finally, Barclays increased their price target on shares of Amgen from $360.00 to $380.00 and gave the stock an "equal weight" rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $380.43.

Amgen Stock Down 0.4%

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. The firm's 50-day moving average is $384.76 and its two-hundred day moving average is $363.86. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $447.03. The company has a market capitalization of $238.06 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 3.19 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping analysts' consensus estimates of $5.62 by $0.67. The firm had revenue of $10.05 billion during 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 firm's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities analysts anticipate that Amgen Inc. will post 22.92 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Amgen's dividend payout ratio is currently 62.65%.

Insiders Place Their Bets

In other news, 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $1,194,415.20. Following the transaction, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 6,222 shares of company stock valued at $2,540,926. Company 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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