Integrity Wealth Advisors Inc. Sells 4,085 Shares of Amgen Inc. $AMGN

Key Points

• Integrity Wealth Advisors cut its Amgen stake by 58.8% in the fourth quarter, selling 4,085 shares and leaving it with 2,864 shares valued at about $937,000.
• Amgen also saw insider selling, with SVP Nancy A. Grygiel selling 1,237 shares for about $400,454, reducing her ownership by 15%.
• Despite mixed sentiment from investors and analysts, Amgen recently beat quarterly earnings and revenue estimates, reporting $5.15 EPS and $8.62 billion in revenue, while analysts currently rate the stock a Hold on average with a $354.42 price target.

Integrity Wealth Advisors Inc. decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 58.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,864 shares of the medical research company's stock after selling 4,085 shares during the quarter. Integrity Wealth Advisors Inc.'s holdings in Amgen were worth $937,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. High Note Wealth LLC grew its stake in shares of Amgen by 5.8% in the 4th quarter. High Note Wealth LLC now owns 508 shares of the medical research company's stock valued at $166,000 after buying an additional 28 shares in the last quarter. TAGStone Capital Inc. boosted its position in Amgen by 0.7% during the fourth quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company's stock worth $1,351,000 after purchasing an additional 28 shares during the period. Verus Capital Partners LLC boosted its position in Amgen by 2.3% during the fourth quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company's stock worth $403,000 after purchasing an additional 28 shares during the period. Destination Wealth Management boosted its position in Amgen by 2.1% during the fourth quarter. Destination Wealth Management now owns 1,393 shares of the medical research company's stock worth $456,000 after purchasing an additional 29 shares during the period. Finally, West Family Investments Inc. boosted its position in Amgen by 1.1% during the third quarter. West Family Investments Inc. now owns 2,760 shares of the medical research company's stock worth $779,000 after purchasing an additional 30 shares during the period. Institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the transaction, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.85% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AMGN has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their target price on Amgen from $360.00 to $370.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 7th. Piper Sandler reaffirmed an "overweight" rating on shares of Amgen in a research report on Friday, June 12th. The Goldman Sachs Group set a $389.00 target price on Amgen in a research report on Friday, June 5th. UBS Group upped their target price on Amgen from $390.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Finally, Truist Financial upped their target price on Amgen from $325.00 to $327.00 and gave the stock a "hold" rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $354.42.

Amgen Stock Down 1.8%

Shares of AMGN stock opened at $341.66 on Thursday. Amgen Inc. has a 12 month low of $267.83 and a 12 month high of $391.29. The firm has a market cap of $184.40 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.49 and a beta of 0.42. The stock has a 50 day moving average of $341.01 and a 200-day moving average of $345.86. 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 (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping analysts' consensus estimates of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same period in the previous year, the company earned $4.90 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts predict that Amgen Inc. will post 22.38 EPS for the current year.

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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