Corient Private Wealth LLC Purchases 188,531 Shares of Amgen Inc. $AMGN

Key Points

• Corient Private Wealth LLC increased its Amgen stake by 54% in the fourth quarter, buying 188,531 additional shares and bringing its total holding to 537,630 shares worth about $176 million.
• Amgen’s latest quarter beat Wall Street estimates, with EPS of $5.15 versus $4.77 expected and revenue of $8.62 billion, up 5.8% year over year.
• Analysts remain mixed on the stock: Amgen has a consensus Hold rating with an average price target of $354.42, while some firms still rate it a Buy and have targets as high as $400.

Corient Private Wealth LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 54.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 537,630 shares of the medical research company's stock after acquiring an additional 188,531 shares during the quarter. Corient Private Wealth LLC owned 0.10% of Amgen worth $176,000,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Amgen by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company's stock valued at $17,949,296,000 after purchasing an additional 961,975 shares in the last quarter. State Street Corp lifted its position in Amgen by 4.4% during the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock worth $10,012,872,000 after buying an additional 1,287,310 shares in the last quarter. Capital World Investors lifted its position in Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock worth $7,560,249,000 after buying an additional 4,302,237 shares in the last quarter. Capital International Investors boosted its stake in shares of Amgen by 1.5% during the 3rd quarter. Capital International Investors now owns 19,192,995 shares of the medical research company's stock worth $5,414,296,000 after buying an additional 282,219 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock worth $4,665,822,000 after buying an additional 1,035,779 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $337.60 on Friday. The business's 50 day moving average price is $340.71 and its two-hundred day moving average price is $345.76. The company has a market cap of $182.21 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 3.39 and a beta of 0.42. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. Amgen Inc. has a twelve month low of $267.83 and a twelve month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. The firm 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%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, analysts predict that Amgen Inc. will post 22.38 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction that occurred 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 directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMGN shares. Canaccord Genuity Group started coverage on Amgen in a research report on Monday, April 20th. They issued a "hold" rating and a $366.00 target price on the stock. UBS Group increased their price target on Amgen from $390.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Argus decreased their price target on Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a research note on Wednesday, May 20th. Jefferies Financial Group began coverage on Amgen in a research report on Tuesday, March 10th. They set a "hold" rating and a $350.00 price target on the stock. Finally, Truist Financial upped their price objective on Amgen from $325.00 to $327.00 and gave the stock a "hold" rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Amgen presently has an average rating of "Hold" and a consensus target price of $354.42.

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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