Jennison Associates LLC Purchases 75,212 Shares of Amgen Inc. $AMGN

Jennison Associates LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 57.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,192 shares of the medical research company’s stock after purchasing an additional 75,212 shares during the quarter. Jennison Associates LLC’s holdings in Amgen were worth $74,304,000 as of its most recent filing with the Securities and Exchange Commission.

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

Amgen Stock Down 0.6%

Shares of NASDAQ:AMGN opened at $415.21 on Friday. The company’s fifty day moving average is $370.57 and its 200-day moving average is $358.93. 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 Inc. has a 52 week low of $269.77 and a 52 week high of $421.79. The company has a market capitalization of $224.47 billion, a PE ratio of 25.81, a P/E/G ratio of 3.88 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last announced 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. Amgen had a net margin of 22.95% and a return on equity of 124.14%. The business had revenue of $10.05 billion during the quarter, compared to analysts’ expectations of $9.43 billion. During the same quarter last year, the company posted $6.02 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities research analysts predict that Amgen Inc. will post 22.78 earnings per share for the current fiscal year.

Amgen Announces Dividend

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 paid a dividend of $2.52 per share. This represents a $10.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 21st. Amgen’s dividend payout ratio is currently 62.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. Canaccord Genuity Group upped their target price on shares of Amgen from $366.00 to $384.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Wells Fargo & Company increased their price target on shares of Amgen from $390.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Truist Financial raised their price target on shares of Amgen from $340.00 to $362.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 price objective on shares of Amgen in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $372.39.

Insider Activity at Amgen

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 value of $521,370.36. Following the transaction, the senior vice president directly owned 6,404 shares of the company’s stock, valued at $2,666,817.72. The trade was a 16.35% decrease in their position. The sale was disclosed in a legal 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 that occurred 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 sale, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 6,222 shares of company stock valued at $2,540,926. Company insiders own 0.85% of the company’s stock.

About Amgen

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.