Philadelphia Investment Partners LLC Makes New $505,000 Investment in Amgen Inc. $AMGN

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

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Amgen in the fourth quarter worth $2,164,162,000. Bank of America Corp DE acquired a new stake in Amgen in the second quarter valued at $1,831,903,000. Capital World Investors boosted its stake in Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after acquiring an additional 4,302,237 shares during the last quarter. BlackRock Inc. boosted its stake in Amgen by 4.8% during the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after acquiring an additional 2,261,544 shares during the last quarter. Finally, State Street Corp grew its holdings in Amgen by 4.4% during the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock worth $10,012,872,000 after acquiring an additional 1,287,310 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMGN shares. Mizuho boosted their target price on shares of Amgen from $303.00 to $352.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada lifted their price target on Amgen from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Sanford C. Bernstein boosted their price objective on Amgen from $335.00 to $345.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Barclays upped their price objective on Amgen from $360.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Finally, Citigroup increased their target price on Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $380.43.

Amgen Trading Down 0.4%

Amgen 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 firm has a 50-day moving average price of $384.76 and a two-hundred day moving average price of $363.86. The firm 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. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $447.03.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS 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 company had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. During the same quarter last year, the business earned $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. Sell-side analysts expect that Amgen Inc. will post 22.92 earnings per share for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $2.52 dividend. This represents a $10.08 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio (DPR) is currently 62.65%.

Insider Activity at Amgen

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 transaction of $1,194,415.20. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rachna Khosla sold 1,252 shares of Amgen stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction of $521,370.36. Following the sale, the senior vice president owned 6,404 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is owned by insiders.

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.