Parallax Volatility Advisers L.P. Takes $1.94 Million Position in Amgen Inc. $AMGN

Parallax Volatility Advisers L.P. purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,354 shares of the medical research company’s stock, valued at approximately $1,939,000.

Several other hedge funds also recently bought and sold shares of the company. Perennial Investment Advisors LLC bought a new position in shares of Amgen in the second quarter worth $1,121,000. Philadelphia Investment Partners LLC purchased a new position in shares of Amgen during the second quarter worth about $505,000. Pingora Partners LLC bought a new position in shares of Amgen in the second quarter worth approximately $85,000. Ausdal Financial Partners Inc. bought a new position in shares of Amgen in the 2nd quarter worth $1,048,000. Finally, Bank of America Corp DE purchased a new stake in shares of Amgen during the 2nd quarter valued at $1,831,903,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.4%

AMGN stock opened at $440.34 on Thursday. Amgen Inc. has a fifty-two week low of $269.77 and a fifty-two week high of $447.03. The company has a market capitalization of $238.06 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 3.19 and a beta of 0.41. The business’s 50 day moving average price is $384.76 and its two-hundred day moving average price is $363.86. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 4th. The medical research company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.62 by $0.67. Amgen had a return on equity of 124.14% and a net margin of 22.95%.The company had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. During the same quarter last year, the business posted $6.02 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, analysts forecast that Amgen Inc. will post 22.92 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company 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 of this dividend is Friday, August 21st. This represents a $10.08 annualized dividend and a yield of 2.3%. Amgen’s dividend payout ratio (DPR) is currently 62.65%.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,252 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $416.43, for a total value of $521,370.36. Following the sale, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,666,817.72. This represents a 16.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nancy A. Grygiel sold 2,970 shares of the stock in a transaction dated 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 owned 7,340 shares of the company’s stock, valued at approximately $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 6,222 shares of company stock worth $2,540,926. Company insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMGN. Guggenheim boosted their target price on Amgen from $343.00 to $388.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Wells Fargo & Company increased their price target on shares of Amgen from $390.00 to $400.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. Sanford C. Bernstein upped their price objective on shares of Amgen from $335.00 to $345.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Weiss Ratings raised Amgen from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Finally, Bank of America increased their price objective on Amgen from $312.00 to $317.00 and gave the stock an “underperform” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $380.43.

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.