Amgen Inc. $AMGN Shares Sold by Oak Associates Ltd. OH

Key Points

• Oak Associates Ltd. OH cut its Amgen stake by 11.8% in the first quarter, selling 14,795 shares and ending with 110,466 shares worth about $38.9 million.
• Amgen reported better-than-expected Q1 earnings, posting EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion, up 5.8% year over year.
• Analyst sentiment is mixed but generally cautious: Amgen’s consensus rating is Hold with an average price target of $356.62, even as some firms maintain bullish ratings and a $400 target.

Oak Associates Ltd. OH reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,466 shares of the medical research company's stock after selling 14,795 shares during the quarter. Amgen comprises approximately 2.6% of Oak Associates Ltd. OH's holdings, making the stock its 12th largest position. Oak Associates Ltd. OH's holdings in Amgen were worth $38,867,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMGN. Anfield Capital Management LLC increased 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 valued at $25,000 after purchasing an additional 70 shares during the period. Dogwood Wealth Management LLC boosted its position 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 worth $25,000 after buying an additional 55 shares during the period. Tower View Wealth Management LLC boosted its position in shares of Amgen by 331.6% during the first 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 period. Manning & Napier Advisors LLC grew its holdings in Amgen by 49.2% in 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 in the last quarter. Finally, Olistico Wealth LLC bought a new position in Amgen in the 4th quarter worth approximately $33,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

NASDAQ AMGN opened at $371.50 on Friday. The stock has a market capitalization of $200.50 billion, a P/E ratio of 25.85, a P/E/G ratio of 3.70 and a beta of 0.41. 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 is $350.28 and its two-hundred day moving average is $351.63. 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 announced its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, research analysts forecast that Amgen Inc. will post 22.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on AMGN. Freedom Capital raised Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. BMO Capital Markets reissued an "outperform" rating and issued a $400.00 price target on shares of Amgen in a research note on Wednesday, July 1st. Piper Sandler reissued an "overweight" rating on shares of Amgen in a report on Friday, June 12th. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Finally, Daiwa Securities Group reduced their price objective on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $356.62.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company'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 sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by corporate insiders.

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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