State of Wisconsin Investment Board Reduces Stake in Amgen Inc. $AMGN

Key Points

• State of Wisconsin Investment Board cut its Amgen stake by 1.4% in the fourth quarter, selling 3,931 shares and leaving it with 278,964 shares valued at about $91.3 million.
• Amgen reported better-than-expected quarterly results, posting EPS of $5.15 versus estimates of $4.77 and revenue of $8.62 billion, while also raising FY 2026 EPS guidance to 21.7-23.1.
• Analysts remain mixed on the stock: Amgen has a consensus Hold rating with a target price of $354.42, even after one recent upgrade to Strong Buy and multiple target adjustments.

State of Wisconsin Investment Board trimmed its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 278,964 shares of the medical research company's stock after selling 3,931 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.05% of Amgen worth $91,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Anfield Capital Management LLC boosted its stake in Amgen by 1,000.0% in the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company's stock valued at $25,000 after acquiring an additional 70 shares during the last quarter. Dogwood Wealth Management LLC boosted its stake in Amgen by 275.0% in the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company's stock valued at $25,000 after acquiring an additional 55 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in Amgen in the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC boosted its stake in Amgen by 49.2% in the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company's stock valued at $32,000 after acquiring an additional 32 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new position in Amgen in the fourth quarter valued at about $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of AMGN stock opened at $347.84 on Wednesday. The stock has a market capitalization of $187.73 billion, a P/E ratio of 24.21, a PEG ratio of 3.52 and a beta of 0.42. 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's 50 day moving average is $341.02 and its 200 day moving average is $345.89. Amgen Inc. has a 12 month low of $267.83 and a 12 month 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 analysts' consensus estimates of $4.77 by $0.38. The company had revenue of $8.62 billion for the quarter, compared to analysts' expectations 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 in the prior year, the company posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, sell-side analysts anticipate that Amgen Inc. will post 22.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Freedom Capital upgraded shares of Amgen from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Morgan Stanley boosted their target price on shares of Amgen from $332.00 to $340.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 9th. Erste Group Bank restated a "hold" rating on shares of Amgen in a research note on Tuesday, May 5th. Canaccord Genuity Group started coverage on shares of Amgen in a research note on Monday, April 20th. They set a "hold" rating and a $366.00 price target on the stock. Finally, Rothschild & Co Redburn upped their price target on shares of Amgen from $180.00 to $200.00 and gave the company a "sell" rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus target price of $354.42.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction that occurred on 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 owned 7,009 shares of the company's stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company's stock.

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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