Amgen Inc. $AMGN Shares Purchased by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its Amgen stake by 20.5% in the first quarter, buying an additional 16,029 shares and bringing its total holding to 94,383 shares worth about $33.2 million.
• Amgen continues to attract institutional interest, with 76.5% of the stock owned by institutional investors and hedge funds; however, the overall analyst consensus remains “Hold” with an average price target of $355.50.
• The company posted a strong quarter, reporting EPS of $5.15 versus $4.77 expected and revenue of $8.62 billion, while also guiding FY2026 EPS in the range of 21.7 to 23.1.

QRG Capital Management Inc. boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 20.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,383 shares of the medical research company's stock after acquiring an additional 16,029 shares during the period. QRG Capital Management Inc.'s holdings in Amgen were worth $33,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Anfield Capital Management LLC raised its position in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after purchasing an additional 70 shares during the period. Dogwood Wealth Management LLC boosted its position in Amgen by 275.0% during the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after purchasing an additional 55 shares during the period. Board of the Pension Protection Fund acquired a new position in Amgen during the 4th quarter valued at approximately $26,000. Tower View Wealth Management LLC grew its stake in Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock worth $29,000 after buying an additional 63 shares during the last quarter. Finally, Manning & Napier Advisors LLC grew its stake in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock worth $32,000 after buying an additional 32 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their target price on Amgen from $375.00 to $390.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 19th. Weiss Ratings reissued a "buy (b)" rating on shares of Amgen in a report on Thursday, June 18th. Morgan Stanley upped their price target on shares of Amgen from $332.00 to $340.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 9th. Mizuho lifted their price objective on shares of Amgen from $295.00 to $303.00 and gave the company a "neutral" rating in a research report on Tuesday, June 16th. Finally, Truist Financial boosted their target price on shares of Amgen from $325.00 to $327.00 and gave the company a "hold" rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Amgen currently has an average rating of "Hold" and an average price target of $355.50.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction dated 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 in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.85% of the stock is owned by insiders.

Amgen Price Performance

Shares of Amgen stock opened at $374.15 on Friday. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $391.29. The business's fifty day moving average price is $342.43 and its two-hundred day moving average price is $347.93. The company has a market capitalization of $201.93 billion, a P/E ratio of 26.04, a PEG ratio of 3.68 and a beta of 0.41.

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 (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.38. The company 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 for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, research analysts forecast that Amgen Inc. will post 22.39 EPS for the current year.

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.

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