Conning Inc. Sells 5,475 Shares of Amgen Inc. $AMGN

Conning Inc. cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.4% in the 1st quarter, HoldingsChannel reports. The firm owned 96,214 shares of the medical research company’s stock after selling 5,475 shares during the quarter. Conning Inc.’s holdings in Amgen were worth $33,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Robeco Institutional Asset Management B.V. increased its stake in Amgen by 10.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company’s stock valued at $157,584,000 after acquiring an additional 43,884 shares during the last quarter. Curtis Advisory Group LLC purchased a new position in shares of Amgen in the 4th quarter worth about $1,669,000. Adell Harriman & Carpenter Inc. increased its position in shares of Amgen by 7.9% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock valued at $7,204,000 after purchasing an additional 1,609 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Amgen during the 4th quarter valued at about $22,441,000. Finally, Robinhood Asset Management LLC purchased a new stake in Amgen in the fourth quarter worth approximately $17,526,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Down 0.1%

NASDAQ AMGN opened at $363.39 on Friday. Amgen Inc. has a 12 month low of $269.77 and a 12 month 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. The stock’s fifty day moving average price is $344.81 and its 200-day moving average price is $349.32. The stock has a market cap of $196.13 billion, a P/E ratio of 25.29, a P/E/G ratio of 3.59 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $4.77 by $0.38. The company had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. Amgen’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities analysts forecast that Amgen Inc. will post 22.32 EPS for the current fiscal year.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the company’s stock in a transaction 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 $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMGN. Piper Sandler reiterated an “overweight” rating on shares of Amgen in a research report on Friday, June 12th. Wells Fargo & Company boosted their target price on Amgen from $375.00 to $390.00 and gave the company an “equal weight” rating in a research note on Thursday, March 19th. Guggenheim reduced their price target on Amgen from $351.00 to $340.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Freedom Capital upgraded Amgen from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Amgen in a research note on Thursday, June 18th. Two 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $355.73.

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.