Kestra Private Wealth Services LLC Grows Position in Amgen Inc. $AMGN

Key Points

• Kestra Private Wealth Services increased its Amgen stake by 8.3% in the first quarter, adding 6,063 shares to reach 79,323 shares valued at about $27.9 million.
• Amgen reported better-than-expected quarterly results, posting EPS of $5.15 versus the $4.77 estimate and revenue of $8.62 billion, with sales up 5.8% year over year.
• Analyst sentiment is mixed: the stock has a consensus rating of “Hold” with an average target price of $354.42, while institutional investors still own 76.5% of the company.

Kestra Private Wealth Services LLC boosted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,323 shares of the medical research company's stock after acquiring an additional 6,063 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Amgen were worth $27,910,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Amgen in the 4th quarter valued at approximately $2,164,162,000. Capital World Investors lifted its position in shares of Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company's stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares during the last quarter. State Street Corp grew its stake in shares of Amgen by 4.4% during the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock worth $10,012,872,000 after purchasing an additional 1,287,310 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company's stock worth $4,665,822,000 after purchasing an additional 1,035,779 shares in the last quarter. Finally, Amundi grew its stake in shares of Amgen by 41.1% during the fourth quarter. Amundi now owns 3,396,945 shares of the medical research company's stock worth $1,111,854,000 after purchasing an additional 988,856 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Price Performance

Shares of AMGN opened at $351.64 on Thursday. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $391.29. The stock has a market cap of $189.78 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42. 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 firm has a fifty day moving average price of $340.45 and a 200 day moving average price of $345.95.

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 (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.38. The company had revenue of $8.62 billion for 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%.The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 22.38 EPS for the current year.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the company'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 sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMGN shares. Cantor Fitzgerald restated a "neutral" rating and issued a $350.00 price target on shares of Amgen in a research note on Wednesday, April 8th. Argus lowered their price objective on Amgen from $400.00 to $375.00 and set a "buy" rating for the company in a research report on Wednesday, May 20th. Canaccord Genuity Group started coverage on Amgen in a report on Monday, April 20th. They issued a "hold" rating and a $366.00 price objective on the stock. UBS Group raised 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, Royal Bank Of Canada restated a "positive" rating on shares of Amgen in a research note on Thursday, June 18th. Two investment 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 given a Sell rating to the company. According to MarketBeat.com, Amgen has an average rating of "Hold" and a consensus target price of $354.42.

Amgen Company 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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