HighTower Advisors LLC Has $295.58 Million Stake in Amgen Inc. $AMGN

HighTower Advisors LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% during the second quarter, HoldingsChannel reports. The fund owned 816,257 shares of the medical research company’s stock after selling 4,063 shares during the quarter. HighTower Advisors LLC’s holdings in Amgen were worth $295,583,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMGN. Anfield Capital Management LLC boosted its stake in shares of Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 70 shares in the last quarter. Dogwood Wealth Management LLC increased 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 valued at $25,000 after buying an additional 55 shares during the period. Tower View Wealth Management LLC raised 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 last quarter. Manning & Napier Advisors LLC boosted its position in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after buying an additional 32 shares during the period. Finally, Ares Financial Consulting LLC acquired a new stake in Amgen during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AMGN shares. Barclays upped their price target on shares of Amgen from $360.00 to $380.00 and gave the company an “equal weight” rating in a research report on Friday. Cantor Fitzgerald reiterated a “neutral” rating and set a $350.00 price target on shares of Amgen in a report on Monday, July 6th. Scotiabank boosted their price objective on shares of Amgen from $385.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group set a $389.00 price objective on Amgen in a report on Friday, June 5th. Finally, Argus lowered their target price on Amgen from $400.00 to $375.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $372.39.

Insiders Place Their Bets

In other Amgen news, 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 sale, the senior vice president directly owned 7,340 shares in the company, valued at approximately $2,951,854.40. This trade represents a 28.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Rachna Khosla sold 1,252 shares of Amgen stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $416.43, for a total value of $521,370.36. Following the completion of the transaction, the senior vice president directly owned 6,404 shares of the company’s stock, valued at approximately $2,666,817.72. This trade represents a 16.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,222 shares of company stock worth $2,540,926 in the last ninety days. Insiders own 0.85% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $415.21 on Monday. 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 firm has a 50 day moving average price of $370.57 and a two-hundred day moving average price of $358.99. The firm has a market cap of $224.48 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 3.86 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last issued its quarterly 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 firm had revenue of $10.05 billion for the quarter, compared to the consensus estimate of $9.43 billion. During the same quarter in the previous year, the company earned $6.02 EPS. The company’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 analysts predict that Amgen Inc. will post 22.78 EPS for the current year.

Amgen Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 2.4%. Amgen’s dividend payout ratio is 62.65%.

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.