Ibex Wealth Advisors Increases Stake in Amgen Inc. $AMGN

Key Points

• Ibex Wealth Advisors raised its Amgen stake by 51.3% in the first quarter, buying 14,837 additional shares and bringing its total to 43,734 shares valued at about $15.4 million.
• Amgen reported better-than-expected quarterly results, posting EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion, up 5.8% year over year.
• Analysts are mixed on the stock: the consensus rating remains Hold with a consensus price target of $355.73, though several firms recently raised targets and maintained bullish ratings.

Ibex Wealth Advisors increased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 51.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,734 shares of the medical research company's stock after purchasing an additional 14,837 shares during the quarter. Amgen accounts for 1.4% of Ibex Wealth Advisors' investment portfolio, making the stock its 20th biggest position. Ibex Wealth Advisors' holdings in Amgen were worth $15,388,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Fidelity D & D Bancorp Inc. boosted its position in Amgen by 4.6% during the first quarter. Fidelity D & D Bancorp Inc. now owns 657 shares of the medical research company's stock valued at $231,000 after buying an additional 29 shares during the period. Resona Asset Management Co. Ltd. increased its holdings in shares of Amgen by 2.1% in the first quarter. Resona Asset Management Co. Ltd. now owns 176,626 shares of the medical research company's stock worth $62,052,000 after buying an additional 3,704 shares during the period. WPG Advisers LLC increased its holdings in shares of Amgen by 16.9% in the first quarter. WPG Advisers LLC now owns 221 shares of the medical research company's stock worth $78,000 after buying an additional 32 shares during the period. Austin Asset Management Co Inc bought a new position in Amgen during the 1st quarter worth approximately $221,000. Finally, CFS Investment Advisory Services LLC grew its position in Amgen by 1.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 9,373 shares of the medical research company's stock worth $3,330,000 after acquiring an additional 138 shares during the last quarter. 76.50% of the stock is owned by 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 on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.85% of the stock is owned by insiders.

Amgen Price Performance

AMGN opened at $363.62 on Friday. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. The stock has a market capitalization of $196.25 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 3.63 and a beta of 0.41. The stock's 50 day moving average price is $344.30 and its 200-day moving average price is $349.22. Amgen Inc. has a 52-week low of $269.77 and a 52-week high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. The company had revenue of $8.62 billion during 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 revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities research analysts predict that Amgen Inc. will post 22.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Amgen from $375.00 to $390.00 and gave the company an "equal weight" rating in a research report on Thursday, March 19th. Morgan Stanley cut their target price on shares of Amgen from $340.00 to $333.00 and set an "equal weight" rating on the stock in a report on Wednesday. UBS Group lifted their target price on shares of Amgen from $390.00 to $400.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. BMO Capital Markets reiterated an "outperform" rating and set a $400.00 price target on shares of Amgen in a report on Wednesday, July 1st. Finally, Piper Sandler reissued an "overweight" rating on shares of Amgen in a report on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $355.73.

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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