Pacific Heights Asset Management LLC Buys New Shares in Amgen Inc. $AMGN

Pacific Heights Asset Management LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 90,000 shares of the medical research company’s stock, valued at approximately $32,591,000. Amgen makes up approximately 1.0% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 27th largest position.

Several other large investors have also recently bought and sold shares of the stock. Dogwood Wealth Management LLC increased its position in shares of Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after purchasing an additional 55 shares during the last quarter. Anfield Capital Management LLC boosted its holdings in shares of Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after buying an additional 70 shares during the last quarter. Tower View Wealth Management LLC grew 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 in the last quarter. Manning & Napier Advisors LLC grew its stake in shares of Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after buying an additional 32 shares in the last quarter. Finally, Evergreen Advisors LLC acquired a new position in Amgen during the first quarter worth $37,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ:AMGN opened at $436.99 on Friday. The company has a market cap of $236.25 billion, a P/E ratio of 27.16, a P/E/G ratio of 3.18 and a beta of 0.41. The firm’s fifty day moving average price is $386.75 and its two-hundred day moving average price is $364.23. Amgen Inc. has a one year low of $269.77 and a one year high of $447.03. 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 earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.62 by $0.67. The company 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%. Amgen’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities analysts expect that Amgen Inc. will post 22.92 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 (DPR) is 62.65%.

Analysts Set New Price Targets

Several analysts have issued reports on AMGN shares. Weiss Ratings raised shares of Amgen from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 6th. Royal Bank Of Canada boosted their price objective on shares of Amgen from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Oppenheimer upped their target price on shares of Amgen from $400.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Erste Group Bank reiterated a “hold” rating on shares of Amgen in a research note on Tuesday, May 5th. Finally, Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $380.43.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Tezspire posted strong Phase 3 results in eosinophilic esophagitis (EoE). The drug met both co-primary and all key secondary endpoints, producing statistically significant and clinically meaningful improvements in tissue inflammation and difficulty swallowing. Benefits were sustained through 52 weeks, supporting a potential third approved indication beyond asthma and chronic rhinosinusitis with nasal polyps. Tezspire Phase 3 results
• Positive Sentiment: The EoE opportunity could materially expand Tezspire’s commercial potential. Analysts and industry commentators view EoE as a possible blockbuster market, potentially allowing Amgen and partner AstraZeneca to compete more directly with established biologics such as Dupixent. Regulatory filing and approval remain necessary before the opportunity can translate into revenue. Tezspire EoE market opportunity
• Neutral Sentiment: Amgen began a Phase 1 study of AMG 691 aimed at a potentially important Asian market. The trial could add a long-term growth asset, but it is at an early stage and provides limited near-term earnings visibility. AMG 691 Phase 1 trial
• Negative Sentiment: Amgen ended its Crohn’s disease research collaboration with TScan Therapeutics. The decision removes an exclusive effort to identify and develop T-cell targets in inflammatory bowel disease, narrowing one element of Amgen’s early pipeline and highlighting uncertainty around its partnership strategy. Amgen ends Crohn’s disease partnership

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,252 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $416.43, for a total transaction of $521,370.36. Following the completion of the sale, the senior vice president owned 6,404 shares in the company, valued at $2,666,817.72. The trade was a 16.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 2,970 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were 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. The trade was a 28.81% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 6,222 shares of company stock valued at $2,540,926. Corporate insiders own 0.85% of the company’s stock.

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.