Perennial Investment Advisors LLC Takes $1.12 Million Position in Amgen Inc. $AMGN

Perennial Investment Advisors LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 3,096 shares of the medical research company’s stock, valued at approximately $1,121,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dogwood Wealth Management LLC raised its stake in shares of Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 55 shares in the last quarter. Anfield Capital Management LLC raised its stake in Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 70 shares during the last quarter. Tower View Wealth Management LLC lifted its stake in shares of Amgen by 331.6% in the first 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 during the period. Manning & Napier Advisors LLC lifted its position in shares of Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after acquiring an additional 32 shares during the period. Finally, Ares Financial Consulting LLC acquired a new position in shares of Amgen in the 4th quarter valued at $34,000. Institutional investors own 76.50% of the company’s stock.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the sale, the senior vice president owned 6,404 shares of the company’s stock, valued at $2,642,098.28. This represents a 23.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares of the company’s stock, valued at $2,951,854.40. The trade was a 28.81% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is owned by corporate insiders.

Amgen Stock Down 0.4%

NASDAQ AMGN opened at $440.34 on Thursday. The stock’s 50 day simple moving average is $384.76 and its 200 day simple moving average is $363.86. Amgen Inc. has a one year low of $269.77 and a one year high of $447.03. The firm has a market cap of $238.06 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 3.19 and a beta of 0.41. 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 posted its quarterly earnings data 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 company had revenue of $10.05 billion for the quarter, compared to analyst estimates of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 22.92 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.3%. Amgen’s dividend payout ratio is 62.65%.

Analyst Ratings Changes

Several analysts have recently weighed in on AMGN shares. Barclays lifted their target price on shares of Amgen from $360.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. UBS Group raised their price target on shares of Amgen from $420.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group set a $389.00 price objective on Amgen in a report on Friday, June 5th. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Freedom Capital raised Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $380.43.

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.