Envestnet Asset Management Inc. Acquires 326,260 Shares of Amgen Inc. $AMGN

Envestnet Asset Management Inc. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 19.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,023,566 shares of the medical research company’s stock after acquiring an additional 326,260 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.37% of Amgen worth $732,774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its holdings in Amgen by 1.6% in the second quarter. Baird Financial Group Inc. now owns 339,825 shares of the medical research company’s stock valued at $123,057,000 after buying an additional 5,496 shares during the period. Integrated Advisors Network LLC raised its position in shares of Amgen by 50.5% during the 1st quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company’s stock valued at $6,664,000 after acquiring an additional 6,356 shares during the last quarter. National Pension Service lifted its stake in shares of Amgen by 4.7% in the 4th quarter. National Pension Service now owns 1,239,549 shares of the medical research company’s stock valued at $405,717,000 after purchasing an additional 55,489 shares during the period. KBC Group NV lifted its stake in shares of Amgen by 51.7% in the 2nd quarter. KBC Group NV now owns 382,676 shares of the medical research company’s stock valued at $138,574,000 after purchasing an additional 130,497 shares during the period. Finally, MW Advisory LLC bought a new position in shares of Amgen in the 2nd quarter worth $1,054,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen News Roundup

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported positive topline results from the Phase 3 OASIZ 301 trial. Dazodalibep achieved a statistically significant and clinically meaningful improvement in the primary endpoint—change in disease activity from baseline at week 48—in adults with moderate-to-severe systemic Sjögren’s disease. Amgen’s autoimmune drug succeeds in late-stage trial
• Positive Sentiment: The results raised hopes that dazodalibep could become an important new autoimmune-disease product, potentially expanding Amgen’s long-term revenue base. Reports said the treatment showed sustained improvement through week 48. AMGN’s Dazodalibep Meets Goal in Systemic Sjogren’s Disease Study
• Positive Sentiment: Jefferies raised its Amgen price target to $410 from $367 following the data, while Goldman Sachs maintained a Buy rating and $450 target. The favorable views reinforce the perception that Amgen’s pipeline may support further upside. Amgen price target raised by Jefferies
• Neutral Sentiment: Amgen’s shares have recently traded near the $406 level, above the 50-day moving average of $403.52 and well above the 200-day average of $368.01, indicating strong longer-term momentum but also a relatively elevated valuation.
• Negative Sentiment: Bank of America kept an Underperform rating and $317 price target, citing uncertainty around the dazodalibep data. Citi also flagged open questions, while approval filing is expected to depend on results from another trial. Amgen Underperform Maintained
• Negative Sentiment: Erste Group slightly reduced its FY2027 earnings estimate to $24.36 per share from $24.43, underscoring that near-term earnings expectations have not materially improved despite the pipeline news.

Amgen Stock Down 1.0%

AMGN traded down $4.15 during trading on Wednesday, hitting $406.09. The company had a trading volume of 2,814,707 shares, compared to its average volume of 2,757,001. The company has a market capitalization of $219.54 billion, a PE ratio of 25.24, a PEG ratio of 2.84 and a beta of 0.43. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44. Amgen Inc. has a one year low of $269.77 and a one year high of $447.03. The firm’s 50-day moving average price is $403.52 and its 200 day moving average price is $368.01.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.62 by $0.67. The firm had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities analysts expect that Amgen Inc. will post 22.94 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were paid a $2.52 dividend. The ex-dividend date was Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.5%. Amgen’s payout ratio is presently 62.65%.

Insider Activity at Amgen

In other Amgen news, SVP Nancy Grygiel sold 2,970 shares of the company’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 transaction of $1,194,415.20. Following the completion of the transaction, the senior vice president owned 7,340 shares of the company’s stock, valued at $2,951,854.40. This represents a 28.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Rachna Khosla sold 1,252 shares of the firm’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 transaction of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,666,817.72. This represents a 16.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 in the last 90 days. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AMGN shares. Piper Sandler lifted their price objective on Amgen from $427.00 to $457.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. TD Cowen raised their target price on Amgen from $420.00 to $452.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Citigroup boosted their target price on Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. 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. Finally, Argus increased their price target on shares of Amgen from $375.00 to $460.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus price target of $383.46.

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and rare diseases. The company uses biologic research, genetics and other advanced technologies to develop treatments intended to address significant unmet medical needs.

Amgen’s medicines include Enbrel for certain inflammatory diseases; Prolia and Evenity for bone-related conditions; Xgeva for complications associated with cancer and bone disease; Repatha for cardiovascular risk reduction; Otezla for inflammatory conditions; and Aimovig for migraine prevention.