Purpose Unlimited Inc. Takes $1.30 Million Position in Amgen Inc. $AMGN

Purpose Unlimited Inc. bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,970 shares of the medical research company’s stock, valued at approximately $1,299,000.

A number of other institutional investors have also added to or reduced their stakes in AMGN. Anfield Capital Management LLC raised its holdings in Amgen by 1,000.0% in the 4th 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 in the last quarter. Dogwood Wealth Management LLC grew its holdings in shares of Amgen by 275.0% during the 4th 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 in the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Amgen during the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC increased its position in shares of Amgen by 49.2% during the fourth 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, Olistico Wealth LLC bought a new stake in shares of Amgen during the fourth quarter valued at approximately $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business’s stock in a transaction 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 sale, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several research reports. Guggenheim reduced their target price on Amgen from $351.00 to $340.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Argus lowered 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. Mizuho increased their price objective on shares of Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a research note on Tuesday, June 16th. Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. Finally, Canaccord Genuity Group started coverage on shares of Amgen in a research report on Monday, April 20th. They set a “hold” rating and a $366.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $354.42.

Amgen Price Performance

Amgen stock opened at $337.60 on Friday. The business has a 50 day simple moving average of $340.71 and a 200 day simple moving average of $345.76. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The company 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 one year low of $267.83 and a one year high of $391.29.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.58 billion. During the same period in the prior year, the business posted $4.90 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 22.38 EPS for the current fiscal year.

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.