Waverly Advisors LLC Acquires 7,344 Shares of Amgen Inc. $AMGN

Key Points

• Waverly Advisors increased its Amgen stake by 21.6% in the first quarter, purchasing 7,344 additional shares for a total of 41,386 shares valued at approximately $14.6 million.
• Institutional investors and hedge funds own 76.5% of Amgen’s outstanding stock, with major holders including Norges Bank, Capital World Investors, State Street and Geode Capital Management increasing their positions.
• Analysts maintain a broadly neutral outlook, with Amgen receiving an average rating of “Hold” and a consensus price target of $356.62. The company recently beat quarterly EPS estimates, reporting $5.15 per share versus the $4.77 consensus, while revenue rose 5.8% year over year.

Waverly Advisors LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 21.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,386 shares of the medical research company's stock after purchasing an additional 7,344 shares during the period. Waverly Advisors LLC's holdings in Amgen were worth $14,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Norges Bank bought a new stake in shares of Amgen during the 4th quarter worth approximately $2,164,162,000. Capital World Investors grew 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 valued at $7,560,249,000 after buying an additional 4,302,237 shares in the last quarter. State Street Corp grew its stake in shares of Amgen by 4.4% in the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company's stock valued at $10,012,872,000 after buying an additional 1,287,310 shares in the last quarter. Geode Capital Management LLC grew its stake 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 buying an additional 1,035,779 shares in the last quarter. Finally, Amundi increased its holdings in Amgen by 41.1% during the fourth quarter. Amundi now owns 3,396,945 shares of the medical research company's stock worth $1,111,854,000 after buying an additional 988,856 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMGN. Truist Financial increased their price target on shares of Amgen from $327.00 to $340.00 and gave the company a "hold" rating in a research note on Tuesday, July 7th. Guggenheim boosted their price objective on shares of Amgen from $340.00 to $343.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Daiwa Securities Group cut their target price on shares of Amgen from $410.00 to $390.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Amgen in a report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $356.62.

Amgen Price Performance

NASDAQ:AMGN opened at $376.04 on Monday. Amgen Inc. has a one year low of $269.77 and a one year high of $391.29. The company has a market cap of $202.95 billion, a P/E ratio of 26.17, a P/E/G ratio of 3.80 and a beta of 0.41. The firm's fifty day moving average price is $351.28 and its two-hundred day moving average price is $352.02. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01.

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, topping analysts' consensus estimates of $4.77 by $0.38. The company had revenue of $8.62 billion during 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities analysts expect that Amgen Inc. will post 22.31 earnings per share for the current year.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the firm'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 completion of the sale, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.85% of the stock is owned by company insiders.

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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