Parvin Asset Management LLC Purchases New Holdings in Amgen Inc. $AMGN

Parvin Asset Management LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,619 shares of the medical research company’s stock, valued at approximately $2,035,000. Amgen makes up approximately 1.6% of Parvin Asset Management LLC’s investment portfolio, making the stock its 9th largest holding.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. raised its position in Amgen by 4.8% during the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after buying an additional 2,261,544 shares during the period. State Street Corp boosted its position in Amgen by 4.4% during the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock worth $10,012,872,000 after acquiring an additional 1,287,310 shares during the period. Capital World Investors grew its stake in Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after acquiring an additional 4,302,237 shares in the last quarter. Geode Capital Management LLC grew its stake in Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after acquiring an additional 1,035,779 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Amgen in the 4th quarter valued at about $2,164,162,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Mizuho upped their price objective on shares of Amgen from $303.00 to $352.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th. Wells Fargo & Company lifted 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. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Cantor Fitzgerald raised their price target on Amgen from $350.00 to $400.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. Finally, Weiss Ratings upgraded Amgen from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average target price of $380.43.

Amgen Stock Performance

AMGN opened at $440.34 on Thursday. The company has a market cap 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. The stock has a 50-day moving average of $384.76 and a 200-day moving average of $363.86. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $447.03. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The firm had revenue of $10.05 billion during the quarter, compared to analyst estimates of $9.43 billion. During the same period in the previous year, the company earned $6.02 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. 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 22.92 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.3%. Amgen’s payout ratio is currently 62.65%.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were 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 trade represents a 28.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,222 shares of company stock worth $2,540,926 over the last quarter. 0.85% of the stock is currently owned by corporate insiders.

About Amgen

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.