Corient Private Wealth LP Invests $187.40 Million in Amgen Inc. $AMGN

Corient Private Wealth LP purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,041,051 shares of the medical research company’s stock, valued at approximately $187,401,000. Corient Private Wealth LP owned approximately 0.19% of Amgen at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s 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 transaction, 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 filing with the SEC, which is available at this link. Also, SVP Rachna Khosla sold 2,000 shares of Amgen 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 completion of the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,642,098.28. The trade was a 23.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 6,222 shares of company stock worth $2,540,926. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Amgen from $427.00 to $457.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. The Goldman Sachs Group set a $389.00 price objective on Amgen in a research report on Friday, June 5th. Weiss Ratings upgraded Amgen from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Freedom Capital raised Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Daiwa Securities Group decreased their price target on Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $380.43.

Amgen Stock Performance

Shares of AMGN stock opened at $440.34 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. The company has a 50 day moving average price of $384.76 and a 200-day moving average price of $363.86. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $447.03. The firm has a market capitalization of $238.06 billion, a PE ratio of 27.37, a P/E/G ratio of 3.19 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.62 by $0.67. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company had revenue of $10.05 billion for 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 firm’s revenue for the quarter 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, equities research analysts expect that Amgen Inc. will post 22.92 earnings per share for the current year.

Amgen Announces Dividend

The company 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. This represents a $10.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Amgen’s dividend payout ratio is presently 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.