PNC Financial Services Group Inc. Has $343.34 Million Stock Position in Amgen Inc. $AMGN

Key Points

• PNC Financial Services Group trimmed its Amgen stake by 5.9% in the fourth quarter, but still held 1,048,963 shares valued at about $343.3 million.
• Amgen reported better-than-expected quarterly results, with EPS of $5.15 and revenue of $8.62 billion, while also reaffirming full-year guidance and announcing a quarterly dividend of $2.52 per share.
• Recent news flow was mixed: Amgen named a new CFO in a planned transition, analysts remained generally cautious-to-neutral on the stock, and Tavneos faced renewed safety scrutiny in Japan.

PNC Financial Services Group Inc. decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,048,963 shares of the medical research company's stock after selling 66,305 shares during the period. PNC Financial Services Group Inc. owned approximately 0.19% of Amgen worth $343,336,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tredje AP fonden acquired a new position in shares of Amgen in the 4th quarter valued at $23,192,000. Larson Financial Group LLC grew its holdings in shares of Amgen by 1.5% in the 4th quarter. Larson Financial Group LLC now owns 6,606 shares of the medical research company's stock valued at $2,162,000 after buying an additional 99 shares during the period. Paul R. Ried Financial Group LLC acquired a new position in shares of Amgen in the 4th quarter valued at $207,000. Paradigm Capital Management LLC NV grew its holdings in shares of Amgen by 1.1% in the 4th quarter. Paradigm Capital Management LLC NV now owns 4,515 shares of the medical research company's stock valued at $1,478,000 after buying an additional 50 shares during the period. Finally, McKinley Carter Wealth Services Inc. grew its holdings in shares of Amgen by 6.8% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 1,311 shares of the medical research company's stock valued at $429,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

More Amgen News

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen announced a planned CFO transition, with Peter Griffith retiring and Thomas Dittrich returning to the company to succeed him. A well-telegraphed succession plan can reduce uncertainty around finance leadership and is typically viewed as a stability signal. AMGEN ANNOUNCES RETIREMENT OF CHIEF FINANCIAL OFFICER PETER GRIFFITH
• Neutral Sentiment: Amgen also named an analyst report in the news flow, along with Piper Sandler trimming its price target while keeping an Overweight rating. That suggests continued long-term optimism, but the target cut is a modest headwind rather than a major catalyst. Amgen (AMGN) Gets Price Target Cut at Piper Sandler Despite Long-Term Growth Optimism
• Negative Sentiment: Separately, Amgen’s kidney disease drug Tavneos faced renewed scrutiny in Japan, where partner Kissei urged doctors to use caution and avoid starting new patients amid safety and regulatory concerns. Headlines like this can pressure sentiment because they raise questions about the product’s commercial trajectory and safety profile. Amgen Japanese Partner Urges Caution On Tavneos Use

Amgen Price Performance

Shares of NASDAQ AMGN opened at $330.75 on Wednesday. The firm has a market cap of $178.50 billion, a PE ratio of 23.02, a PEG ratio of 3.26 and a beta of 0.44. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 5.65. Amgen Inc. has a 1-year low of $267.83 and a 1-year high of $391.29. The company has a fifty day moving average price of $347.53 and a 200 day moving average price of $343.86.

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 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 for the quarter, compared to analysts' expectations of $8.58 billion. During the same period in the previous year, the firm posted $4.90 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts predict that Amgen Inc. will post 22.37 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 15th will be given a dividend of $2.52 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $10.08 annualized dividend and a yield of 3.0%. Amgen's payout ratio is 70.15%.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $323.73, for a total transaction of $400,454.01. Following the sale, the senior vice president directly owned 7,009 shares of the company's stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AMGN shares. Rothschild & Co Redburn boosted their price target on shares of Amgen from $180.00 to $200.00 and gave the company a "sell" rating in a report on Wednesday, February 18th. Oppenheimer set a $400.00 target price on shares of Amgen and gave the stock an "outperform" rating in a research note on Thursday, January 29th. Citigroup upped their target price on shares of Amgen from $315.00 to $345.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 4th. Piper Sandler reduced their target price on shares of Amgen from $432.00 to $427.00 and set an "overweight" rating for the company in a research note on Thursday, May 14th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $350.00 target price on shares of Amgen in a research note on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $356.15.

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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