Jennison Associates LLC Acquires 75,212 Shares of Amgen Inc. $AMGN

Jennison Associates LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 57.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,192 shares of the medical research company’s stock after buying an additional 75,212 shares during the period. Jennison Associates LLC’s holdings in Amgen were worth $74,304,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC raised its stake in shares of Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after acquiring an additional 70 shares during the last quarter. Dogwood Wealth Management LLC lifted its position in shares of Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after purchasing an additional 55 shares in the last quarter. Tower View Wealth Management LLC grew its stake in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 63 shares during the last quarter. Manning & Napier Advisors LLC grew its stake in shares of Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Amgen in the fourth quarter valued at approximately $34,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AMGN shares. Royal Bank Of Canada boosted their price objective on shares of Amgen from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Erste Group Bank reiterated a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Scotiabank lifted their target price on Amgen from $385.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Bank of America boosted their target price on Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 5th. Finally, Robert W. Baird upped their price target on Amgen from $215.00 to $230.00 and gave the company an “underperform” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $372.39.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total value of $825,140.00. Following the transaction, the senior vice president directly owned 6,404 shares in the company, valued at $2,642,098.28. This trade represents a 23.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction 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 sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is currently owned by company insiders.

Amgen Trading Down 0.6%

AMGN opened at $415.21 on Friday. 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 company has a market cap of $224.47 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 3.88 and a beta of 0.41. The firm has a 50 day simple moving average of $370.57 and a 200 day simple moving average of $358.93. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $421.79.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $9.43 billion. During the same period in the prior year, the business posted $6.02 earnings per share. Amgen’s 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, sell-side analysts anticipate that Amgen Inc. will post 22.78 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.4%. Amgen’s dividend payout ratio is 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.