ABN Amro Investment Solutions Lowers Holdings in Amgen Inc. $AMGN

ABN Amro Investment Solutions lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 18.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,173 shares of the medical research company’s stock after selling 12,829 shares during the period. ABN Amro Investment Solutions’ holdings in Amgen were worth $20,468,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMGN. Triad Investment Management acquired a new stake in shares of Amgen during the first quarter worth $542,000. PNC Financial Services Group Inc. grew its stake in Amgen by 2.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,073,540 shares of the medical research company’s stock worth $377,725,000 after buying an additional 24,577 shares during the period. Oslo Pensjonsforsikring AS purchased a new stake in Amgen during the first quarter worth approximately $570,000. HORAN Wealth LLC increased its position in shares of Amgen by 0.8% in the first quarter. HORAN Wealth LLC now owns 15,194 shares of the medical research company’s stock worth $5,305,000 after acquiring an additional 119 shares in the last quarter. Finally, DUTCH ASSET Corp purchased a new stake in shares of Amgen in the first quarter worth about $743,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of Amgen from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Truist Financial raised their price target on shares of Amgen from $327.00 to $340.00 and gave the company a “hold” rating in a report on Tuesday, July 7th. Erste Group Bank reiterated a “hold” rating on shares of Amgen in a report on Tuesday, May 5th. Royal Bank Of Canada reaffirmed a “positive” rating on shares of Amgen in a report on Thursday, June 18th. Finally, The Goldman Sachs Group set a $389.00 price objective on shares of Amgen in a report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $356.62.

Amgen Price Performance

NASDAQ AMGN opened at $366.24 on Wednesday. The company has a 50-day moving average price of $348.98 and a two-hundred day moving average price of $351.05. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $391.29. The stock has a market cap of $197.66 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.68 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.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the previous year, the firm posted $4.90 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Analysts forecast that Amgen Inc. will post 22.31 EPS for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the business’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 transaction, the senior vice president owned 7,009 shares in the company, valued at approximately $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.85% of the stock is 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.