SteelPeak Wealth LLC Acquires 20,118 Shares of Amgen Inc. $AMGN

Key Points

• SteelPeak Wealth LLC increased its Amgen stake by 17.4% in the first quarter, buying 20,118 additional shares and bringing its total holding to 135,846 shares valued at about $47.8 million.
• Institutional ownership remains high, with hedge funds and other institutions owning 76.5% of Amgen’s shares, and several firms reported adding to their positions during recent quarters.
• Amgen posted solid quarterly results, beating earnings and revenue expectations with $5.15 EPS and $8.62 billion in revenue, while analysts currently have a consensus rating of “Hold” and an average price target of $356.62.

SteelPeak Wealth LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 17.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,846 shares of the medical research company's stock after purchasing an additional 20,118 shares during the quarter. Amgen comprises 1.5% of SteelPeak Wealth LLC's portfolio, making the stock its 13th largest position. SteelPeak Wealth LLC's holdings in Amgen were worth $47,797,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AMGN. Brighton Jones LLC boosted its position in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Amgen by 10.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company's stock worth $331,000 after buying an additional 114 shares during the last quarter. Schnieders Capital Management LLC. increased its position in Amgen by 29.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company's stock valued at $7,220,000 after buying an additional 5,853 shares in the last quarter. Main Street Financial Solutions LLC increased its position in Amgen by 11.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company's stock valued at $1,141,000 after buying an additional 416 shares in the last quarter. Finally, Ieq Capital LLC raised its stake in Amgen by 5.1% during the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company's stock valued at $15,120,000 after buying an additional 2,611 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AMGN shares. Freedom Capital raised Amgen from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Wells Fargo & Company raised their price target on Amgen from $375.00 to $390.00 and gave the company an "equal weight" rating in a report on Thursday, March 19th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $400.00 price target on shares of Amgen in a research report on Wednesday, July 1st. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Finally, Argus cut their price objective on shares of Amgen from $400.00 to $375.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $356.62.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total transaction of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.85% of the company's stock.

Amgen Trading Up 3.7%

NASDAQ:AMGN opened at $371.58 on Friday. The company has a market cap of $200.55 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 3.63 and a beta of 0.41. 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 company has a 50 day simple moving average of $347.00 and a two-hundred day simple moving average of $350.27. 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 released its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.77 by $0.38. The firm had revenue of $8.62 billion for the quarter, compared to analysts' expectations of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts forecast that Amgen Inc. will post 22.31 earnings per share 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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