Peapack Gladstone Financial Corp Reduces Position in Amgen Inc. $AMGN

Peapack Gladstone Financial Corp lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 8.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 99,440 shares of the medical research company’s stock after selling 8,887 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Amgen were worth $32,547,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Anfield Capital Management LLC boosted its position 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 buying an additional 70 shares during the period. Dogwood Wealth Management LLC boosted its position in shares of Amgen by 275.0% during 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. Board of the Pension Protection Fund purchased a new position in shares of Amgen during the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC boosted 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 buying an additional 32 shares during the period. Finally, Olistico Wealth LLC purchased a new position in shares of Amgen during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Amgen from $285.00 to $295.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Wells Fargo & Company boosted their target price on Amgen from $375.00 to $390.00 and gave the company an “equal weight” rating in a research report on Thursday, March 19th. Cantor Fitzgerald restated a “neutral” rating and set a $350.00 target price on shares of Amgen in a research report on Wednesday, April 8th. Morgan Stanley set a $332.00 target price on Amgen in a research report on Friday, May 1st. Finally, Royal Bank Of Canada boosted their target price on Amgen from $360.00 to $370.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $355.19.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the business’s 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 completion of the transaction, the senior vice president owned 7,009 shares of the company’s stock, valued at $2,269,023.57. The trade was 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. 0.85% of the stock is owned by company insiders.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $336.79 on Monday. The company has a market capitalization of $181.77 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 3.38 and a beta of 0.42. Amgen Inc. has a 52 week low of $267.83 and a 52 week 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. The firm has a 50 day moving average of $342.53 and a 200 day moving average of $345.48.

Amgen (NASDAQ:AMGN) last issued 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 company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. Amgen’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, sell-side analysts predict that Amgen Inc. will post 22.37 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 15th will be paid a $2.52 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $10.08 dividend on an annualized basis and a yield of 3.0%. Amgen’s payout ratio is 70.15%.

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.