Pathway Financial Advisers LLC Sells 5,382 Shares of Amgen Inc. $AMGN

Key Points

• Pathway Financial Advisers LLC cut its Amgen stake by 35.2% in the first quarter, selling 5,382 shares and leaving it with 9,887 shares valued at about $3.48 million.
• Other institutional investors remain heavily invested in Amgen, with 76.5% of the stock owned by hedge funds and institutions. Several big holders, including Vanguard and State Street, also increased their positions.
• Amgen reported strong first-quarter results, beating EPS and revenue expectations, while analysts currently rate the stock a consensus "Hold" with a target price of $354.42.

Pathway Financial Advisers LLC reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 35.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,887 shares of the medical research company's stock after selling 5,382 shares during the quarter. Pathway Financial Advisers LLC's holdings in Amgen were worth $3,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Amgen by 1.8% in the fourth 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 during the last quarter. State Street Corp boosted its position in 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 during the period. Capital World Investors increased its stake in shares of Amgen by 22.9% in the fourth 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 in the last quarter. Capital International Investors raised its position in shares of Amgen by 1.5% in the third 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 during the period. Finally, Geode Capital Management LLC raised its position in shares of Amgen by 7.8% in the fourth 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 during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 owned 7,009 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

AMGN has been the subject of several analyst reports. Jefferies Financial Group assumed coverage on shares of Amgen in a report on Tuesday, March 10th. They issued a "hold" rating and a $350.00 price objective for the company. Guggenheim lowered their target price on shares of Amgen from $351.00 to $340.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Daiwa Securities Group dropped their target price on Amgen from $410.00 to $390.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Truist Financial lifted their price target on Amgen from $325.00 to $327.00 and gave the company a "hold" rating in a research report on Friday, May 1st. Finally, Canaccord Genuity Group assumed coverage on Amgen in a research note on Monday, April 20th. They set a "hold" rating and a $366.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $354.42.

Amgen Stock Performance

Amgen stock opened at $360.55 on Tuesday. The firm's 50 day simple moving average is $340.92 and its 200 day simple moving average is $346.71. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. The firm has a market capitalization of $194.59 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 3.60 and a beta of 0.42. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $391.29.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period last year, the firm earned $4.90 EPS. The business'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. As a group, analysts expect that Amgen Inc. will post 22.38 earnings per share for the current fiscal 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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