HighTower Advisors LLC Has $257.47 Million Position in Amgen Inc. $AMGN

HighTower Advisors LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 786,624 shares of the medical research company’s stock after selling 2,753 shares during the quarter. HighTower Advisors LLC’s holdings in Amgen were worth $257,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after acquiring an additional 5,226 shares during the period. Sivia Capital Partners LLC raised 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 purchasing an additional 114 shares in the last quarter. Schnieders Capital Management LLC. boosted 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 purchasing an additional 5,853 shares during the period. Main Street Financial Solutions LLC grew its position 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 in the last quarter. Finally, Ieq Capital LLC grew its position 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 in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMGN shares. Citigroup lifted their price target on shares of Amgen from $315.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Canaccord Genuity Group started coverage on Amgen in a research note on Monday, April 20th. They set a “hold” rating and a $366.00 price objective on the stock. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. The Goldman Sachs Group raised their price target on Amgen from $415.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Daiwa Securities Group cut their price objective on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $356.15.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the transaction, the senior vice president owned 7,009 shares of the company’s stock, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.85% of the company’s stock.

Amgen Trading Down 0.6%

AMGN opened at $324.39 on Tuesday. The company has a market cap of $175.07 billion, a P/E ratio of 22.57, a PEG ratio of 3.28 and a beta of 0.44. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The company’s 50 day moving average is $348.31 and its 200-day moving average is $343.59. Amgen Inc. has a 1-year low of $267.83 and a 1-year high of $391.29.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.77 by $0.38. The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts predict that Amgen Inc. will post 22.37 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 15th will be paid a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, May 15th. Amgen’s dividend payout ratio (DPR) is presently 70.15%.

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.