Concurrent Investment Advisors LLC Acquires 8,590 Shares of Amgen Inc. $AMGN

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Adell Harriman & Carpenter Inc. raised its position in shares of Amgen by 7.9% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock valued at $7,204,000 after buying an additional 1,609 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Amgen in the fourth quarter valued at about $22,441,000. National Pension Service grew its position in Amgen by 4.7% during the fourth quarter. National Pension Service now owns 1,239,549 shares of the medical research company’s stock worth $405,717,000 after buying an additional 55,489 shares in the last quarter. Integrated Advisors Network LLC grew its position in Amgen by 50.5% during the first quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company’s stock worth $6,664,000 after buying an additional 6,356 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Amgen by 2.5% during the fourth quarter. Legal & General Group Plc now owns 3,811,451 shares of the medical research company’s stock valued at $1,247,526,000 after acquiring an additional 94,494 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Canaccord Genuity Group upped their price target on Amgen from $366.00 to $384.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Citigroup lifted their price objective on Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Mizuho boosted their price objective on Amgen from $303.00 to $352.00 and gave the company a “neutral” rating in a research report on Tuesday, August 18th. Wells Fargo & Company upped their target price on Amgen from $390.00 to $400.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Guggenheim raised their target price on Amgen from $343.00 to $388.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $380.43.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the 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 completion of the transaction, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rachna Khosla sold 2,000 shares of Amgen 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 transaction, the senior vice president directly owned 6,404 shares of the company’s stock, valued at approximately $2,642,098.28. The trade was a 23.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,222 shares of company stock valued at $2,540,926 in the last 90 days. 0.85% of the stock is owned by corporate insiders.

Amgen Stock Performance

NASDAQ:AMGN opened at $444.12 on Friday. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $447.03. 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 market capitalization of $240.11 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 3.19 and a beta of 0.43. The firm has a 50-day moving average price of $395.82 and a 200 day moving average price of $366.66.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. The firm had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Research analysts anticipate that Amgen Inc. will post 22.97 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business 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 dividend of $2.52 per share. This represents a $10.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, August 21st. Amgen’s dividend payout ratio (DPR) is 62.65%.

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.