Purpose Unlimited Inc. Invests $1.30 Million in Amgen Inc. $AMGN

Purpose Unlimited Inc. bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, Holdings Channel reports. The institutional investor bought 3,970 shares of the medical research company’s stock, valued at approximately $1,299,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Anfield Capital Management LLC increased its holdings in Amgen by 1,000.0% during the 4th 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 raised its position 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 purchasing an additional 55 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in Amgen in the fourth quarter worth $26,000. Manning & Napier Advisors LLC boosted its stake in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Olistico Wealth LLC bought a new stake in shares of Amgen during the fourth quarter worth $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the subject of a number of research reports. UBS Group raised their target price on Amgen from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Erste Group Bank reissued a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. Piper Sandler reaffirmed an “overweight” rating on shares of Amgen in a research note on Friday, June 12th. Wells Fargo & Company upped their target price on shares of Amgen from $375.00 to $390.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 19th. Finally, Wall Street Zen raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $354.42.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the transaction, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.85% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $337.60 on Friday. The stock’s fifty day simple moving average is $340.71 and its 200-day simple moving average is $345.76. The firm has a market capitalization of $182.21 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 3.39 and a beta of 0.42. Amgen Inc. has a 12-month low of $267.83 and a 12-month high of $391.29. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $4.77 by $0.38. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, research analysts predict that Amgen Inc. will post 22.38 earnings per share for the current year.

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.