Global Retirement Partners LLC Invests $8.88 Million in Amgen Inc. $AMGN

Global Retirement Partners LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,522 shares of the medical research company’s stock, valued at approximately $8,880,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Anfield Capital Management LLC increased its position in shares of Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 70 shares during the period. Dogwood Wealth Management LLC grew its stake in shares of Amgen by 275.0% in the fourth 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. 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 worth $29,000 after purchasing an additional 63 shares during the last quarter. Manning & Napier Advisors LLC increased its holdings in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 32 shares during the period. Finally, Ares Financial Consulting LLC purchased a new position in Amgen during the 4th quarter valued at about $34,000. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. Royal Bank Of Canada increased their price objective on Amgen from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Truist Financial upped their target price on Amgen from $340.00 to $362.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Oppenheimer raised their price target on Amgen from $400.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Argus cut their price target on shares of Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Finally, TD Cowen boosted their price objective on shares of Amgen from $420.00 to $452.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $372.39.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,970 shares of the company’s stock in a transaction dated 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 sale, the senior vice president owned 7,340 shares in the company, valued at approximately $2,951,854.40. This represents a 28.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rachna Khosla sold 1,252 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $416.43, for a total transaction 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. This represents a 16.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,222 shares of company stock worth $2,540,926 over the last ninety days. Insiders own 0.85% of the company’s stock.

Amgen Stock Up 1.0%

Shares of NASDAQ:AMGN opened at $419.38 on Tuesday. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $421.79. The firm has a market capitalization of $226.73 billion, a P/E ratio of 26.06, a P/E/G ratio of 3.86 and a beta of 0.41. The stock has a 50 day moving average price of $372.05 and a 200-day moving average price of $359.47. 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 quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share for the quarter, beating the consensus estimate 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 firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 22.78 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 21st will be issued a dividend of $2.52 per share. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 21st. Amgen’s payout ratio is 62.65%.

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.