Amgen Inc. $AMGN Shares Bought by Corient Private Wealth LP

Corient Private Wealth LP raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 89.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,041,819 shares of the medical research company’s stock after buying an additional 490,952 shares during the quarter. Corient Private Wealth LP’s holdings in Amgen were worth $377,263,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dogwood Wealth Management LLC grew its position 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 last quarter. Anfield Capital Management LLC lifted its position in Amgen by 1,000.0% in the fourth 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 during the last quarter. Tower View Wealth Management LLC lifted its position in Amgen by 331.6% in the first 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 during the last quarter. Manning & Napier Advisors LLC boosted its stake in Amgen by 49.2% in the fourth 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 in the last quarter. Finally, Ares Financial Consulting LLC acquired a new position in Amgen in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on AMGN. Oppenheimer raised their price objective on Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Piper Sandler upped their target price on Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Wells Fargo & Company raised their price target on Amgen from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group set a $389.00 price target on Amgen in a research report on Friday, June 5th. Finally, Royal Bank Of Canada boosted their price objective on Amgen from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $380.43.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $440.34 on Thursday. The company has a 50-day simple moving average of $384.76 and a 200-day simple moving average of $363.86. Amgen Inc. has a one year low of $269.77 and a one year 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. 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 (NASDAQ:AMGN) last announced 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 net margin of 22.95% and a return on equity of 124.14%. The business had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. During the same quarter in the prior year, the firm earned $6.02 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, analysts predict that Amgen Inc. will post 22.92 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed 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. This represents a $10.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Amgen’s dividend payout ratio (DPR) is presently 62.65%.

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the business’s stock in a transaction that occurred 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 approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rachna Khosla sold 1,252 shares of the company’s stock in a transaction that occurred on 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 trade represents a 16.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,222 shares of company stock valued at $2,540,926 over the last ninety days. 0.85% of the stock is owned by insiders.

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.