D.A. Davidson & CO. Trims Stake in Amgen Inc. $AMGN

Key Points

• D.A. Davidson & CO. cut its Amgen stake by 2.7% in the first quarter, selling 6,632 shares and ending with 241,522 shares worth about $84.98 million.
• Amgen beat quarterly expectations, reporting $5.15 EPS on revenue of $8.62 billion, both slightly ahead of analyst estimates, with revenue up 5.8% year over year.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $356.62, while recent target changes ranged from upgrades to modest cuts.

D.A. Davidson & CO. reduced its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,522 shares of the medical research company's stock after selling 6,632 shares during the period. D.A. Davidson & CO.'s holdings in Amgen were worth $84,980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Amgen by 10.6% during the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock valued at $331,000 after acquiring an additional 114 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in Amgen by 29.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock valued at $7,220,000 after purchasing an additional 5,853 shares in the last quarter. Main Street Financial Solutions LLC raised its holdings in Amgen by 11.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock worth $1,141,000 after acquiring an additional 416 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in shares of Amgen by 5.1% in the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock worth $15,120,000 after purchasing an additional 2,611 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $323.73, for a total transaction of $400,454.01. Following the transaction, the senior vice president directly owned 7,009 shares in the company, valued at approximately $2,269,023.57. This trade represents 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 accessible through this link. Insiders own 0.85% of the company's stock.

Amgen Stock Up 0.9%

Shares of AMGN opened at $358.32 on Thursday. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $391.29. The firm has a market capitalization of $193.39 billion, a P/E ratio of 24.94, a P/E/G ratio of 3.59 and a beta of 0.41. The firm has a fifty day moving average price of $346.15 and a 200-day moving average price of $350.00. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.Amgen's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts expect that Amgen Inc. will post 22.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research reports. Truist Financial raised their target price on shares of Amgen from $327.00 to $340.00 and gave the stock a "hold" rating in a report on Tuesday, July 7th. Daiwa Securities Group decreased their target price on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Freedom Capital raised Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Canaccord Genuity Group started coverage on shares of Amgen in a report on Monday, April 20th. They issued a "hold" rating and a $366.00 price target on the stock. Finally, Morgan Stanley lowered their target price on Amgen from $340.00 to $333.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Two equities research 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $356.62.

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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