Absher Wealth Management LLC Trims Stock Holdings in Amgen Inc. $AMGN

Absher Wealth Management LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,920 shares of the medical research company's stock after selling 3,464 shares during the quarter. Amgen comprises approximately 3.1% of Absher Wealth Management LLC's portfolio, making the stock its 19th biggest holding. Absher Wealth Management LLC's holdings in Amgen were worth $26,361,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. IFC Advisors LLC boosted its holdings in shares of Amgen by 2.2% in the first quarter. IFC Advisors LLC now owns 2,751 shares of the medical research company's stock worth $968,000 after acquiring an additional 58 shares during the period. Global Assets Advisory LLC raised its stake in shares of Amgen by 6.9% during the 1st quarter. Global Assets Advisory LLC now owns 3,676 shares of the medical research company's stock valued at $1,293,000 after purchasing an additional 238 shares during the period. Trifecta Capital Advisors LLC boosted its stake in Amgen by 2.9% in the 1st quarter. Trifecta Capital Advisors LLC now owns 15,992 shares of the medical research company's stock worth $5,627,000 after purchasing an additional 458 shares during the period. Valmark Advisers Inc. grew its holdings in Amgen by 1.5% during the 1st quarter. Valmark Advisers Inc. now owns 8,726 shares of the medical research company's stock valued at $3,070,000 after buying an additional 133 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its position in shares of Amgen by 2.0% in the first quarter. Pittenger & Anderson Inc. now owns 3,033 shares of the medical research company's stock valued at $1,067,000 after acquiring an additional 60 shares during the period. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen 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 transaction, the senior vice president owned 7,009 shares in the company, 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 through the SEC website. Insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent analyst reports. The Goldman Sachs Group set a $389.00 target price on shares of Amgen in a research note on Friday, June 5th. Royal Bank Of Canada reaffirmed a "positive" rating on shares of Amgen in a report on Thursday, June 18th. Truist Financial increased their price objective on Amgen from $327.00 to $340.00 and gave the stock a "hold" rating in a research report on Tuesday, July 7th. Argus dropped their price objective on Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a research note on Wednesday, May 20th. Finally, UBS Group upped their target price on Amgen from $390.00 to $400.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $355.73.

Amgen Stock Performance

Shares of AMGN stock opened at $363.39 on Monday. The business has a 50-day moving average price of $344.81 and a two-hundred day moving average price of $349.45. Amgen Inc. has a 12-month low of $269.77 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. The firm has a market cap of $196.13 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 3.59 and a beta of 0.41.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.Amgen's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities analysts anticipate that Amgen Inc. will post 22.32 EPS 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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