L2 Asset Management LLC Has $11.31 Million Stake in Amgen Inc. $AMGN

L2 Asset Management LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 12.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,241 shares of the medical research company’s stock after acquiring an additional 3,501 shares during the period. Amgen accounts for 1.2% of L2 Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. L2 Asset Management LLC’s holdings in Amgen were worth $11,313,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Roman Butler Fullerton & Co. lifted its position in shares of Amgen by 1.4% during the 2nd quarter. Roman Butler Fullerton & Co. now owns 1,956 shares of the medical research company’s stock worth $705,000 after purchasing an additional 27 shares during the last quarter. High Note Wealth LLC grew its holdings in Amgen by 5.8% in the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock valued at $166,000 after buying an additional 28 shares during the last quarter. TAGStone Capital Inc. increased its position in Amgen by 0.7% in the 4th quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock worth $1,351,000 after buying an additional 28 shares during the period. Verus Capital Partners LLC lifted its holdings in shares of Amgen by 2.3% during the fourth quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock worth $403,000 after buying an additional 28 shares during the last quarter. Finally, Destination Wealth Management lifted its holdings in shares of Amgen by 2.1% during the fourth quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock worth $456,000 after buying an additional 29 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 1.0%

Shares of AMGN stock opened at $443.84 on Tuesday. The stock has a market cap of $239.95 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 3.17 and a beta of 0.41. Amgen Inc. has a one year low of $269.77 and a one year high of $445.87. The stock has a fifty day moving average price of $380.90 and a 200 day moving average price of $362.81. The company has a debt-to-equity ratio of 4.44, a current ratio of 1.37 and a quick ratio of 1.13.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $9.43 billion. During the same quarter in the previous year, the firm posted $6.02 EPS. The business’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. Analysts predict that Amgen Inc. will post 22.92 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 21st will be given a $2.52 dividend. This represents a $10.08 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 21st. Amgen’s dividend payout ratio is 62.65%.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total transaction of $825,140.00. Following the completion of the transaction, the senior vice president owned 6,404 shares in the company, valued at $2,642,098.28. This trade represents a 23.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 2,970 shares of Amgen stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. The trade was a 28.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 6,222 shares of company stock valued at $2,540,926. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research analyst reports. Morgan Stanley restated an “overweight” rating and issued a $362.00 price objective on shares of Amgen in a research note on Wednesday, August 19th. BMO Capital Markets increased their price target on shares of Amgen from $400.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Truist Financial raised their price target on shares of Amgen from $340.00 to $362.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $389.00 price objective on shares of Amgen in a report on Friday, June 5th. Finally, Barclays increased their target price on shares of Amgen from $360.00 to $380.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $380.43.

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.