Amgen Inc. $AMGN Shares Purchased by Warren Street Wealth Advisors LLC

Key Points

• Warren Street Wealth Advisors increased its Amgen stake by 390.1% in the first quarter, buying 16,488 additional shares and bringing its total holding to 20,715 shares worth about $7.29 million.
• Amgen reported better-than-expected quarterly results, with EPS of $5.15 versus the $4.77 consensus and revenue of $8.62 billion, up 5.8% year over year.
• Analysts currently have a mixed but cautious outlook on AMGN: the stock carries an average rating of “Hold” and an average price target of $354.42, while insider Nancy A. Grygiel recently sold shares.

Warren Street Wealth Advisors LLC raised its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 390.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,715 shares of the medical research company's stock after purchasing an additional 16,488 shares during the period. Amgen accounts for about 1.9% of Warren Street Wealth Advisors LLC's holdings, making the stock its 13th biggest position. Warren Street Wealth Advisors LLC's holdings in Amgen were worth $7,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Smith Salley Wealth Management lifted its position in shares of Amgen by 2.9% during the 1st quarter. Smith Salley Wealth Management now owns 11,102 shares of the medical research company's stock worth $3,906,000 after buying an additional 316 shares during the last quarter. Evolve Private Wealth LLC boosted its holdings in shares of Amgen by 15.0% in the 1st quarter. Evolve Private Wealth LLC now owns 5,488 shares of the medical research company's stock valued at $1,931,000 after buying an additional 717 shares in the last quarter. Guardian Investment Management grew its position in shares of Amgen by 3.7% in the 1st quarter. Guardian Investment Management now owns 16,656 shares of the medical research company's stock valued at $5,860,000 after buying an additional 591 shares during the last quarter. IVC Wealth Advisors LLC grew its position in shares of Amgen by 4.1% in the 1st quarter. IVC Wealth Advisors LLC now owns 1,560 shares of the medical research company's stock valued at $549,000 after buying an additional 61 shares during the last quarter. Finally, Triad Wealth Partners LLC raised its stake in Amgen by 26.7% during the 1st quarter. Triad Wealth Partners LLC now owns 1,413 shares of the medical research company's stock worth $497,000 after acquiring an additional 298 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

AMGN stock opened at $337.60 on Monday. The company has a market cap of $182.21 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 3.39 and a beta of 0.42. The company has a fifty day moving average price of $340.71 and a 200 day moving average price of $345.82. 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 12 month low of $267.83 and a 12 month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. Amgen's revenue for the quarter was up 5.8% on a year-over-year basis. 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. Sell-side analysts expect that Amgen Inc. will post 22.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMGN shares. Daiwa Securities Group reduced their price target on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Argus dropped their price objective on Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Erste Group Bank reiterated a "hold" rating on shares of Amgen in a research report on Tuesday, May 5th. The Goldman Sachs Group set a $389.00 target price on Amgen in a report on Friday, June 5th. Finally, Canaccord Genuity Group assumed coverage on Amgen in a research report on Monday, April 20th. They issued a "hold" rating and a $366.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $354.42.

Insider Buying and Selling at Amgen

In other 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 transaction of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.85% of the company's stock.

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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