Proficio Capital Partners LLC Acquires Shares of 6,520 Amgen Inc. $AMGN

Proficio Capital Partners LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,520 shares of the medical research company’s stock, valued at approximately $2,361,000.

Several other institutional investors have also added to or reduced their stakes in AMGN. Adell Harriman & Carpenter Inc. grew its holdings in Amgen by 7.9% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock worth $7,204,000 after acquiring an additional 1,609 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Amgen in the 4th quarter worth approximately $22,441,000. Sigma Planning Corp boosted its stake in shares of Amgen by 24.0% during the fourth quarter. Sigma Planning Corp now owns 17,992 shares of the medical research company’s stock valued at $5,889,000 after purchasing an additional 3,488 shares in the last quarter. National Pension Service increased its holdings in Amgen by 4.7% during the fourth quarter. National Pension Service now owns 1,239,549 shares of the medical research company’s stock valued at $405,717,000 after buying an additional 55,489 shares during the period. Finally, Integrated Advisors Network LLC raised its stake in Amgen by 50.5% in the first quarter. Integrated Advisors Network LLC now owns 18,941 shares of the medical research company’s stock worth $6,664,000 after buying an additional 6,356 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.4%

NASDAQ:AMGN opened at $440.34 on Thursday. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $447.03. The firm has a fifty day simple moving average of $384.76 and a 200-day simple moving average of $363.86. The company has a current ratio of 1.37, a quick ratio of 1.13 and a debt-to-equity ratio of 4.44. The company has a market capitalization of $238.06 billion, a P/E ratio of 27.37, a PEG ratio of 3.19 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued 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 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 analyst estimates of $9.43 billion. During the same quarter last year, the business posted $6.02 EPS. The firm’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. On average, equities research analysts anticipate that Amgen Inc. will post 22.92 earnings per share for the current year.

Amgen Dividend Announcement

The firm 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 2.3%. The ex-dividend date is Friday, August 21st. Amgen’s payout ratio is presently 62.65%.

Insider Buying and Selling at Amgen

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

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of analyst reports. BMO Capital Markets lifted their price target on Amgen from $400.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Citigroup upped their price objective on Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. UBS Group boosted their target price on shares of Amgen from $420.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. 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. Finally, Oppenheimer raised their target price on shares of Amgen from $400.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus target price 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.