Harvest Investment Advisors LLC Makes New Investment in Amgen Inc. $AMGN

Key Points

• Harvest Investment Advisors opened a new position in Amgen during the fourth quarter, buying 6,693 shares valued at about $2.19 million. The stake represents roughly 1.2% of its portfolio and is now its 22nd largest holding.
• Amgen reported strong quarterly results, with EPS of $5.15 topping estimates and revenue of $8.62 billion slightly above expectations. Revenue rose 5.8% year over year, and the company issued FY 2026 EPS guidance of 21.7 to 23.1.
• Analysts currently have a mixed but cautious view on the stock, with a consensus rating of “Hold” and an average price target of $354.42. Meanwhile, insider activity included SVP Nancy A. Grygiel selling 1,237 shares in early May.

Harvest Investment Advisors LLC purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,693 shares of the medical research company's stock, valued at approximately $2,191,000. Amgen accounts for about 1.2% of Harvest Investment Advisors LLC's investment portfolio, making the stock its 22nd largest position.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Amgen by 1.8% during the 4th 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 grew its holdings 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 valued at $10,012,872,000 after purchasing an additional 1,287,310 shares in the last quarter. Capital World Investors grew its holdings 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 valued at $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. Capital International Investors grew its holdings in Amgen by 1.5% during the 3rd quarter. Capital International Investors now owns 19,192,995 shares of the medical research company's stock valued at $5,414,296,000 after purchasing an additional 282,219 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in 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 valued at $4,665,822,000 after purchasing an additional 1,035,779 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Down 0.8%

Amgen stock opened at $347.84 on Wednesday. The company has a market cap of $187.73 billion, a P/E ratio of 24.21, a PEG ratio of 3.52 and a beta of 0.42. The firm's 50-day moving average is $341.02 and its 200-day moving average is $345.89. Amgen Inc. has a 1 year low of $267.83 and a 1 year high of $391.29. 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 issued 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 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%. Amgen's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts expect that Amgen Inc. will post 22.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMGN. Barclays began coverage on shares of Amgen in a report on Friday, February 20th. They set an "equal weight" rating and a $350.00 price target for the company. Guggenheim lowered their price target on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating for the company in a report on Monday, May 4th. Leerink Partners reaffirmed a "market perform" rating and set a $355.00 price target on shares of Amgen in a report on Thursday, March 5th. Freedom Capital upgraded shares of Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group assumed coverage on shares of Amgen in a research note on Tuesday, March 10th. They set a "hold" rating and a $350.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $354.42.

Insider Activity

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 transaction, the senior vice president directly owned 7,009 shares of the company's stock, valued at $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is owned by corporate insiders.

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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