Buffalo Business & Estate Services Ltd. Reduces Holdings in Amgen Inc. $AMGN

Buffalo Business & Estate Services Ltd. lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 9.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,053 shares of the medical research company’s stock after selling 1,663 shares during the period. Amgen comprises 0.8% of Buffalo Business & Estate Services Ltd.’s portfolio, making the stock its 24th largest holding. Buffalo Business & Estate Services Ltd.’s holdings in Amgen were worth $5,296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Stonebridge Financial Group LLC MO grew its holdings in Amgen by 4.3% during the 1st quarter. Stonebridge Financial Group LLC MO now owns 1,138 shares of the medical research company’s stock valued at $400,000 after buying an additional 47 shares during the last quarter. Sovereign Financial Group Inc. raised its holdings in shares of Amgen by 2.5% in the first quarter. Sovereign Financial Group Inc. now owns 1,779 shares of the medical research company’s stock worth $626,000 after acquiring an additional 44 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Amgen by 16.3% in the first quarter. AdvisorNet Financial Inc now owns 6,251 shares of the medical research company’s stock worth $2,200,000 after acquiring an additional 877 shares during the last quarter. Community Bank & Trust Waco Texas lifted its position in shares of Amgen by 1.5% in the first quarter. Community Bank & Trust Waco Texas now owns 10,280 shares of the medical research company’s stock valued at $3,617,000 after acquiring an additional 147 shares in the last quarter. Finally, Anchyra Partners LLC lifted its position in shares of Amgen by 4.6% in the first quarter. Anchyra Partners LLC now owns 2,990 shares of the medical research company’s stock valued at $1,052,000 after acquiring an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $344.72 on Tuesday. The firm has a market capitalization of $186.05 billion, a P/E ratio of 23.99, a PEG ratio of 3.39 and a beta of 0.42. The stock has a fifty day moving average price of $340.50 and a 200 day moving average price of $345.86. Amgen Inc. has a 52 week low of $267.83 and a 52 week high of $391.29. 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 (NASDAQ:AMGN) last issued its quarterly 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 firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts anticipate that Amgen Inc. will post 22.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Amgen from $375.00 to $390.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 19th. Cantor Fitzgerald restated a “neutral” rating and issued a $350.00 target price on shares of Amgen in a report on Wednesday, April 8th. Freedom Capital raised shares of Amgen from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Piper Sandler reiterated an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Finally, Mizuho boosted their price objective on shares of Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $354.42.

Insider Buying and Selling at Amgen

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

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.