Perennial Investment Advisors LLC Purchases Shares of 3,096 Amgen Inc. $AMGN

Perennial Investment Advisors LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,096 shares of the medical research company’s stock, valued at approximately $1,121,000.

Several other large investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock worth $17,874,974,000 after acquiring an additional 2,261,544 shares in the last quarter. State Street Corp boosted its position in shares of Amgen by 4.4% during the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after purchasing an additional 1,287,310 shares in the last quarter. Capital World Investors boosted its position in shares of 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 purchasing an additional 4,302,237 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Amgen by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after purchasing an additional 1,035,779 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Amgen in the 4th quarter worth approximately $2,164,162,000. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the company’s stock in a transaction on 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 directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the completion of the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at approximately $2,642,098.28. This represents a 23.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,222 shares of company stock worth $2,540,926 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on AMGN shares. Piper Sandler increased their target price on shares of Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Canaccord Genuity Group lifted their price target on shares of Amgen from $366.00 to $384.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. Freedom Capital raised Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Weiss Ratings upgraded Amgen from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada raised their price objective on Amgen from $370.00 to $400.00 and gave the stock 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 issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock 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 firm has a 50 day simple moving average of $384.76 and a 200 day simple 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. 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.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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 firm had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. During the same period in the previous year, the company posted $6.02 EPS. The company’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. As a group, research analysts expect that Amgen Inc. will post 22.92 earnings per share for the current year.

Amgen Announces Dividend

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

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.