Cullinan Associates Inc. Has $8.98 Million Stock Holdings in Amgen Inc. $AMGN

Key Points

• Cullinan Associates Inc. cut its Amgen stake by 18.1% in the first quarter, selling 5,627 shares and leaving it with 25,516 shares valued at about $8.98 million.
• Amgen’s latest quarterly results topped expectations, with EPS of $5.15 versus the $4.77 estimate and revenue of $8.62 billion, up 5.8% year over year.
• Wall Street sentiment is mixed: analysts currently rate Amgen as a Hold on average, with a consensus price target of $355.73, while the stock recently traded at $363.39.

Cullinan Associates Inc. reduced its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 18.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,516 shares of the medical research company's stock after selling 5,627 shares during the period. Cullinan Associates Inc.'s holdings in Amgen were worth $8,978,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AMGN. Dogwood Wealth Management LLC raised its holdings in Amgen by 275.0% in the 4th 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 period. Anfield Capital Management LLC boosted its holdings in shares of Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after acquiring an additional 70 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Amgen in the fourth quarter valued at approximately $26,000. Tower View Wealth Management LLC grew its position in shares of 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 purchasing an additional 63 shares during the last quarter. Finally, Manning & Napier Advisors LLC increased its stake in shares of 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 purchasing an additional 32 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent research reports. Guggenheim reduced their price target on Amgen from $351.00 to $340.00 and set a "neutral" rating for the company in a research note on Monday, May 4th. Royal Bank Of Canada reiterated a "positive" rating on shares of Amgen in a research report on Thursday, June 18th. Weiss Ratings reissued a "buy (b)" rating on shares of Amgen in a report on Thursday, June 18th. Piper Sandler reissued an "overweight" rating on shares of Amgen in a research report on Friday, June 12th. Finally, Mizuho upped their price target on shares of Amgen from $295.00 to $303.00 and gave the company a "neutral" rating in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $355.73.

Amgen Price Performance

NASDAQ:AMGN traded down $0.23 during trading hours on Friday, reaching $363.39. 1,632,617 shares of the company were exchanged, compared to its average volume of 2,658,015. The company has a market capitalization of $196.13 billion, a P/E ratio of 25.29, a P/E/G ratio of 3.59 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 company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The business has a 50 day moving average of $344.81 and a 200 day moving average of $349.32.

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. The firm 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts forecast that Amgen Inc. will post 22.32 EPS for the current year.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction dated Monday, May 4th. The stock was 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 of the company's stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.85% of the company's stock.

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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