Philadelphia Investment Partners LLC Takes Position in Amgen Inc. $AMGN

Philadelphia Investment Partners LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,208 shares of the medical research company’s stock, valued at approximately $505,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC grew its stake in Amgen by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock worth $331,000 after acquiring an additional 114 shares during the period. Schnieders Capital Management LLC. raised its holdings in Amgen by 29.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company’s stock valued at $7,220,000 after acquiring an additional 5,853 shares during the last quarter. Main Street Financial Solutions LLC lifted its stake in shares of Amgen by 11.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company’s stock worth $1,141,000 after purchasing an additional 416 shares during the period. Finally, Ieq Capital LLC lifted its stake in shares of Amgen by 5.1% during the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock worth $15,120,000 after purchasing an additional 2,611 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction 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 trade represents a 23.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction 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. The trade was a 28.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 6,222 shares of company stock valued at $2,540,926 over the last 90 days. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America raised their price objective on Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a report on Wednesday, August 5th. UBS Group increased their target price on Amgen from $420.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Freedom Capital raised Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. TD Cowen lifted their price target on Amgen from $420.00 to $452.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group upped their price objective on shares of Amgen from $366.00 to $384.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and a consensus price target of $380.43.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $440.34 on Thursday. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $447.03. The company 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. The business has a 50-day moving average of $384.76 and a 200-day moving average of $363.86.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.Amgen’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities analysts anticipate that Amgen Inc. will post 22.92 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced 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 is Friday, August 21st. This represents a $10.08 annualized dividend and a dividend yield of 2.3%. Amgen’s dividend payout ratio is 62.65%.

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.