VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 80,985 Amgen Inc. $AMGN

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,985 shares of the medical research company’s stock, valued at approximately $29,326,000.

A number of other hedge funds have also modified their holdings of the business. Tower View Wealth Management LLC lifted its stake in Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after buying an additional 63 shares in the last quarter. Manning & Napier Advisors LLC increased its position in Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after buying an additional 32 shares in the last quarter. Evergreen Advisors LLC purchased a new position in Amgen during the first quarter worth $37,000. Sfam LLC acquired a new position in shares of Amgen in the fourth quarter worth $38,000. Finally, Advocate Investing Services LLC acquired a new position in shares of Amgen in the fourth quarter worth $39,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMGN. Oppenheimer upped their price objective on Amgen from $400.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald lifted their price objective on Amgen from $350.00 to $400.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 18th. Barclays boosted their target price on shares of Amgen from $360.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Citigroup upped their target price on shares of Amgen from $345.00 to $405.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, TD Cowen raised their price target on shares of Amgen from $420.00 to $452.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $381.68.

Amgen Stock Performance

NASDAQ AMGN opened at $437.23 on Tuesday. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $447.03. The company has a 50-day moving average of $398.92 and a 200-day moving average of $367.59. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13. The company has a market cap of $236.38 billion, a P/E ratio of 27.17, a P/E/G ratio of 3.15 and a beta of 0.43.

Amgen (NASDAQ:AMGN) last released its 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. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business had revenue of $10.05 billion for the quarter, compared to analysts’ expectations of $9.43 billion. During the same period last year, the company earned $6.02 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities analysts predict that Amgen Inc. will post 22.97 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid 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 (DPR) is currently 62.65%.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen continues to be viewed as a long-term growth candidate, supported by its diversified drug portfolio and potential pipeline contributions. However, the bullish commentary is largely based on broad fundamental and valuation screens rather than a new company-specific announcement. Why Amgen Is a Top Growth Stock for the Long-Term
• Neutral Sentiment: An industry report identified Amgen, Roche and Johnson & Johnson as leading participants in the expanding oncology bi/multispecific-drug market. The report offers sector context but does not announce a new Amgen asset, deal or clinical result, so its immediate effect on AMGN is likely limited. Bi/Multispecific Oncology Market Report
• Neutral Sentiment: Congressman David Taylor disclosed several trades, including sales of biotech holdings. These transactions are not directly linked to Amgen’s operations or outlook and do not provide a meaningful fundamental signal for AMGN. Congressional Stock Trades
• Negative Sentiment: Novartis reported that its Phase III pelacarsen study failed to reduce cardiovascular events, despite testing a lower target biomarker level. Investors are concerned that the result may challenge the broader “lipoprotein(a)” treatment mechanism and make it harder for Amgen’s 7,297-patient olpasiran outcome trial to produce a positive result. Amgen Shares Fall as Pelacarsen Misses Phase III Goal
• Negative Sentiment: The pelacarsen failure prompted a pullback in Amgen shares as investors reassessed olpasiran’s probability of success and potential commercial value. The concern is currently a pipeline-risk repricing, not evidence that Amgen’s approved products or recent earnings performance have deteriorated. Amgen’s 7,297-Patient Heart Bet Inherited a Higher Bar

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the sale, the senior vice president directly owned 6,404 shares in the company, valued at $2,642,098.28. This represents a 23.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value 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 trade represents a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is owned by company 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.