Assetmark Inc. Purchases 15,719 Shares of Amgen Inc. $AMGN

Key Points

• Assetmark Inc. increased its Amgen stake by 6.9% in the first quarter, buying 15,719 more shares and bringing its total holdings to 243,853 shares valued at about $85.8 million.
• Amgen's stock has drawn mixed analyst sentiment, with several firms adjusting targets and ratings, leaving the stock with an overall "Hold" consensus and an average target price of $356.62.
• The company reported stronger-than-expected first-quarter results, with EPS of $5.15 beating estimates and revenue of $8.62 billion topping forecasts, while management also issued FY2026 guidance of $21.70 to $23.10 EPS.

Assetmark Inc. grew its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,853 shares of the medical research company's stock after buying an additional 15,719 shares during the quarter. Assetmark Inc.'s holdings in Amgen were worth $85,800,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Anfield Capital Management LLC raised its position 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 increased its stake in Amgen by 275.0% in 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. Board of the Pension Protection Fund bought a new stake in shares of Amgen during the 4th quarter worth $26,000. Tower View Wealth Management LLC grew its position in Amgen by 331.6% in the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after acquiring an additional 63 shares during the last quarter. Finally, Manning & Napier Advisors LLC raised its stake in 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 acquiring an additional 32 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Amgen from $327.00 to $340.00 and gave the stock a "hold" rating in a research note on Tuesday, July 7th. Guggenheim lifted their price target on Amgen from $340.00 to $343.00 and gave the company a "neutral" rating in a research note on Monday. Daiwa Securities Group reduced their price target on Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Freedom Capital upgraded shares of Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Finally, Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Two 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, Amgen presently has an average rating of "Hold" and an average target price of $356.62.

Amgen Stock Up 3.7%

Shares of NASDAQ AMGN opened at $371.58 on Friday. 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 $200.55 billion, a PE ratio of 25.86, a P/E/G ratio of 3.63 and a beta of 0.41. The company's fifty day simple moving average is $347.00 and its 200 day simple moving average is $350.27. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $391.29.

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 the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the prior year, the business earned $4.90 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 22.31 earnings per share for the current fiscal year.

Insider Activity

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 completion of the sale, the senior vice president owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

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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