AMG National Trust Bank lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 37.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,034 shares of the medical research company’s stock after buying an additional 3,523 shares during the quarter. AMG National Trust Bank’s holdings in Amgen were worth $4,586,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. High Note Wealth LLC boosted its holdings in shares of Amgen by 5.8% during the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock worth $166,000 after acquiring an additional 28 shares during the period. TAGStone Capital Inc. increased its stake in shares of Amgen by 0.7% during the fourth quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock worth $1,351,000 after purchasing an additional 28 shares during the period. Verus Capital Partners LLC lifted its holdings in Amgen by 2.3% during the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock worth $403,000 after purchasing an additional 28 shares during the last quarter. Destination Wealth Management lifted its holdings in Amgen by 2.1% during the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock worth $456,000 after purchasing an additional 29 shares during the last quarter. Finally, Breakwater Capital Group boosted its stake in Amgen by 1.4% in the 1st quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company’s stock valued at $717,000 after purchasing an additional 29 shares during the period. Institutional investors own 76.50% of the company’s stock.
Analysts Set New Price Targets
Several research firms have weighed in on AMGN. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Morgan Stanley decreased their price target on shares of Amgen from $340.00 to $333.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Wells Fargo & Company raised their target price on shares of Amgen from $375.00 to $390.00 and gave the stock an “equal weight” rating in a report on Thursday, March 19th. Mizuho raised their price target on Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Amgen in a report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $356.62.
Insiders Place Their Bets
In related news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the transaction, the senior vice president directly owned 7,009 shares of the company’s stock, valued at $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is owned by insiders.
More Amgen News
Here are the key news stories impacting Amgen this week:
- Positive Sentiment: BMO Capital reiterated its Buy rating on Amgen, reinforcing a bullish stance from one analyst firm. BMO Capital Sticks to Their Buy Rating for Amgen (AMGN)
- Positive Sentiment: One report argued Amgen could be as much as 47% undervalued after the Enbrel price-cap ruling, suggesting the stock may have meaningful upside if that view proves correct. Amgen (AMGN) Stock May Be 47% Undervalued After Enbrel Price Cap Ruling
- Neutral Sentiment: Amgen remains a heavily watched stock, and several articles focused on valuation comparisons and broader competitive positioning rather than a new company-specific catalyst. Amgen Inc. (AMGN) Is a Trending Stock: Facts to Know Before Betting on It
- Neutral Sentiment: Guggenheim raised its price target slightly to $343 while keeping a Neutral rating, signaling limited upside in the firm’s view. Amgen price target raised by Guggenheim
- Negative Sentiment: Bank of America Securities reiterated a Sell rating and said Amgen’s near-term growth remains limited, with the stock trading above its newly raised price target of $312. Analyst Maintains Sell on Amgen as Shares Trade Above Newly Raised $312 Price Target and Near-Term Growth Remains Limited
Amgen Price Performance
Shares of NASDAQ:AMGN opened at $355.25 on Wednesday. Amgen Inc. has a one year low of $269.77 and a one year high of $391.29. 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 cap of $191.73 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 3.56 and a beta of 0.41. The firm has a 50 day simple moving average of $345.60 and a 200 day simple moving average of $349.81.
Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the prior year, the business earned $4.90 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts predict that Amgen Inc. will post 22.31 earnings per share for the current fiscal year.
About Amgen
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.
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