AlTi Global Inc. Cuts Stock Position in Amgen Inc. $AMGN

Key Points

• AlTi Global Inc. reduced its stake in Amgen by 31.7% in the first quarter, selling 9,833 shares and leaving it with 21,159 shares valued at about $7.45 million.
• Amgen reported better-than-expected Q1 earnings of $5.15 per share on revenue of $8.62 billion, topping analyst estimates and marking 5.8% year-over-year revenue growth.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating with an average price target of $356.62, while recent updates included both price-target changes and pipeline concerns from halted trial programs.

AlTi Global Inc. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 31.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 21,159 shares of the medical research company's stock after selling 9,833 shares during the period. AlTi Global Inc.'s holdings in Amgen were worth $7,445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Dogwood Wealth Management LLC raised its holdings 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 acquiring an additional 55 shares during the last quarter. Anfield Capital Management LLC boosted its stake in shares of Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after acquiring an additional 70 shares during the last quarter. Tower View Wealth Management LLC boosted its stake in shares of Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after acquiring an additional 63 shares during the last quarter. 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 worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new stake in shares of Amgen during the fourth quarter worth approximately $33,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

AMGN stock opened at $366.29 on Monday. Amgen Inc. has a one year low of $269.77 and a one year high of $391.29. The firm's 50 day moving average price is $347.69 and its 200-day moving average price is $350.53. The firm has a market cap of $197.69 billion, a PE ratio of 25.49, a PEG ratio of 3.71 and a beta of 0.41. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. The business had revenue of $8.62 billion during 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%.The company's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 22.31 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on AMGN shares. Mizuho raised their price objective on Amgen from $295.00 to $303.00 and gave the company a "neutral" rating in a report on Tuesday, June 16th. Morgan Stanley dropped their target price on shares of Amgen from $340.00 to $333.00 and set an "equal weight" rating for the company in a report on Wednesday, July 8th. The Goldman Sachs Group set a $389.00 target price on shares of Amgen in a research report on Friday, June 5th. Canaccord Genuity Group assumed coverage on shares of Amgen in a research note on Monday, April 20th. They issued a "hold" rating and a $366.00 price target on the stock. Finally, Freedom Capital upgraded shares of Amgen from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Two research 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 stock. According to MarketBeat, Amgen has a consensus rating of "Hold" and an average price target of $356.62.

Amgen News Summary

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen advanced its obesity pipeline with fresh Phase 1 data on AMG 133 injection formats, which could support long-term growth if the program continues to show promise. Amgen Advances Obesity Pipeline With Fresh Data on AMG 133 Injection Formats
• Positive Sentiment: Amgen’s stock was highlighted in market coverage as teasing a buy point, suggesting technical traders may see room for upside if broader market conditions stabilize. Stock Market Today: Dow Sees Red While Amgen Shares Tease A Buy Point (Live Coverage)
• Neutral Sentiment: Amgen remains a candidate for another earnings beat, according to recent coverage pointing to its history of topping estimates and solid fundamentals. Will Amgen (AMGN) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Erste Group slightly lowered its FY2027 EPS estimate for Amgen to $23.58 from $23.62 and kept a Hold rating, a modest negative for sentiment but not a major change in the outlook. Amgen Inc. NASDAQ: AMGN Free Report
• Negative Sentiment: Amgen halted a late-stage bemarituzumab gastric cancer trial, adding uncertainty to part of its oncology pipeline and pressuring investor expectations. Amgen Halts Bemarituzumab Gastric Cancer Trial, Shifting Oncology Expectations
• Negative Sentiment: Amgen also terminated a key Phase 3 rocatinlimab eczema study, another setback that may raise concerns about the durability of its pipeline growth. Amgen’s Rocatinlimab Eczema Trial Termination Jolts Investor Expectations

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 0.85% of the company's stock.

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.

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