Concurrent Investment Advisors LLC Has $18.70 Million Stock Holdings in Amgen Inc. $AMGN

Concurrent Investment Advisors LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 19.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,650 shares of the medical research company’s stock after buying an additional 8,590 shares during the period. Concurrent Investment Advisors LLC’s holdings in Amgen were worth $18,703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMGN. Norges Bank acquired a new position in shares of Amgen in the fourth quarter worth $2,164,162,000. Bank of America Corp DE acquired a new stake in Amgen during the second quarter valued at $1,831,903,000. Capital World Investors boosted its position in Amgen by 22.9% during the fourth 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 during the last quarter. Wellington Management Group LLP grew its stake in Amgen by 1,102.7% in the second quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock valued at $993,031,000 after purchasing an additional 2,514,254 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Amgen by 4.8% in the second quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after purchasing an additional 2,261,544 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $444.12 on Friday. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $447.03. The business has a 50-day moving average of $395.82 and a two-hundred day moving average of $366.66. The stock has a market capitalization of $240.11 billion, a P/E ratio of 27.60, a P/E/G ratio of 3.19 and a beta of 0.43. 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 (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, topping the consensus estimate of $5.62 by $0.67. The company had revenue of $10.05 billion during 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 firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, equities research analysts predict that Amgen Inc. will post 22.97 EPS for the current fiscal year.

Amgen Dividend Announcement

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

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were 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 in the company, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the senior vice president directly owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 6,222 shares of company stock worth $2,540,926. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of a number of recent research reports. Mizuho raised their price target on Amgen from $303.00 to $352.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. Guggenheim boosted their price target on Amgen from $343.00 to $388.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Piper Sandler increased their price objective on Amgen from $427.00 to $457.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Bank of America raised their price objective on shares of Amgen from $312.00 to $317.00 and gave the company an “underperform” rating in a research report on Wednesday, August 5th. Finally, UBS Group lifted their target price on shares of Amgen from $420.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $380.43.

Amgen Company 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.