Snider Financial Group Makes New Investment in Amgen Inc. $AMGN

Snider Financial Group bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 1,320 shares of the medical research company’s stock, valued at approximately $556,000.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Amgen by 38.2% during the 2nd quarter. State Street Corp now owns 42,205,243 shares of the medical research company’s stock worth $15,283,363,000 after acquiring an additional 11,656,755 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Amgen in the second quarter valued at about $1,831,903,000. Wellington Management Group LLP increased its stake in Amgen by 1,102.7% during the second quarter. Wellington Management Group LLP now owns 2,742,271 shares of the medical research company’s stock worth $993,031,000 after acquiring an additional 2,514,254 shares during the last quarter. BlackRock Inc. raised its stake in shares of Amgen by 4.8% in the 2nd quarter. BlackRock Inc. now owns 49,362,016 shares of the medical research company’s stock valued at $17,874,974,000 after acquiring an additional 2,261,544 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Amgen by 702.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,535,257 shares of the medical research company’s stock worth $647,126,000 after acquiring an additional 1,344,010 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

AMGN stock traded down $1.54 during trading on Friday, reaching $432.49. 2,567,027 shares of the company’s stock were exchanged, compared to its average volume of 3,127,974. The firm has a market cap of $233.82 billion, a PE ratio of 26.88, a P/E/G ratio of 3.18 and a beta of 0.41. The company’s fifty day moving average price is $415.54 and its 200-day moving average price is $374.76. Amgen Inc. has a 1-year low of $288.00 and a 1-year high of $447.03. The company has a quick ratio of 1.13, a current ratio of 1.37 and a debt-to-equity ratio of 4.44.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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. The company had revenue of $10.05 billion during the quarter, compared to the consensus estimate of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.02 EPS. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. On average, research analysts expect that Amgen Inc. will post 22.94 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 21st were issued a $2.52 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $10.08 dividend on an annualized basis and a yield of 2.3%. Amgen’s dividend payout ratio is 62.65%.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,252 shares of the business’s stock in a transaction 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 sale, the senior vice president 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 filing with the SEC, which can be accessed through this link. Also, SVP Nancy Grygiel sold 2,970 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total transaction of $1,194,415.20. Following the completion of the sale, the senior vice president owned 7,340 shares in the company, valued at $2,951,854.40. This represents a 28.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 6,222 shares of company stock worth $2,540,926. 0.85% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMGN shares. Truist Financial lifted their price objective on shares of Amgen from $362.00 to $380.00 and gave the stock a “hold” rating in a research report on Wednesday, October 7th. Citigroup boosted their target price on shares of Amgen from $345.00 to $405.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Sanford C. Bernstein raised their target price on shares of Amgen from $335.00 to $345.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. 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. Finally, Guggenheim lowered their price objective on shares of Amgen from $388.00 to $378.00 and set a “neutral” rating for the company in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus price target of $387.93.

Amgen Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research and commercial activities focus on areas including oncology, cardiovascular disease, inflammation, bone health, neuroscience and rare diseases. The company uses biologic research, human genetics and other advanced technologies to develop targeted therapies and supports patients through treatment and disease-management services.

Amgen’s portfolio includes medicines such as Enbrel for inflammatory diseases; Prolia and Evenity for osteoporosis; Xgeva for cancer-related bone complications; Repatha for certain cardiovascular conditions; Otezla for inflammatory diseases; Aimovig for migraine prevention; Tezspire for severe asthma; and Lumakras for certain cancers.