Nicholas Wealth LLC. Takes $1.16 Million Position in Amgen Inc. $AMGN

Key Points

• Nicholas Wealth LLC opened a new position in Amgen during the first quarter, buying 3,289 shares valued at about $1.16 million.
• Amgen reported better-than-expected first-quarter results, posting EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion versus $8.58 billion expected.
• Wall Street remains cautious overall: analysts have a consensus rating of Hold on AMGN, with an average price target of $354.42 even as the stock recently traded up 1.6% to $358.61.

Nicholas Wealth LLC. purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,289 shares of the medical research company's stock, valued at approximately $1,157,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dogwood Wealth Management LLC increased its position in Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock worth $25,000 after purchasing an additional 55 shares during the last quarter. Anfield Capital Management LLC raised its stake in shares of Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock worth $25,000 after purchasing an additional 70 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Amgen during the 4th quarter valued at about $26,000. Tower View Wealth Management LLC lifted its holdings in shares of Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company's stock valued at $29,000 after buying an additional 63 shares during the last quarter. Finally, Manning & Napier Advisors LLC grew its stake in shares of Amgen by 49.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after buying an additional 32 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the firm'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 sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research reports. Royal Bank Of Canada restated a "positive" rating on shares of Amgen in a report on Thursday, June 18th. Mizuho lifted their target price on shares of Amgen from $295.00 to $303.00 and gave the company a "neutral" rating in a research note on Tuesday, June 16th. Canaccord Genuity Group started coverage on shares of Amgen in a research report on Monday, April 20th. They issued a "hold" rating and a $366.00 target price for the company. Guggenheim dropped their price target on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating on the stock in a research note on Monday, May 4th. Finally, Morgan Stanley raised their price target on shares of Amgen from $332.00 to $340.00 and gave the company an "equal weight" rating in a report on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Amgen presently has an average rating of "Hold" and a consensus price target of $354.42.

Amgen Trading Up 1.6%

Shares of AMGN stock opened at $358.61 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The business's 50 day moving average is $340.70 and its two-hundred day moving average is $346.20. The company has a market cap of $193.54 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 3.60 and a beta of 0.42. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.77 by $0.38. The business had revenue of $8.62 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities analysts predict that Amgen Inc. will post 22.38 EPS for the current year.

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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