Econ Financial Services Corp Cuts Stake in Amgen Inc. $AMGN

Econ Financial Services Corp reduced its position in Amgen Inc. (NASDAQ:AMGN) by 52.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,042 shares of the medical research company’s stock after selling 4,438 shares during the quarter. Econ Financial Services Corp’s holdings in Amgen were worth $1,422,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Anfield Capital Management LLC increased its position in Amgen by 1,000.0% during the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 70 shares during the period. Dogwood Wealth Management LLC lifted its position in shares of Amgen by 275.0% in the 4th quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock worth $25,000 after purchasing an additional 55 shares during the period. Board of the Pension Protection Fund bought a new position in shares of Amgen during the fourth quarter valued at approximately $26,000. Tower View Wealth Management LLC boosted its stake in shares of Amgen by 331.6% during the first quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. Finally, Manning & Napier Advisors LLC increased its holdings in Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after buying an additional 32 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.6%

NASDAQ:AMGN opened at $358.61 on Friday. Amgen Inc. has a 52 week low of $269.77 and a 52 week high of $391.29. The firm has a 50 day moving average of $340.70 and a 200 day moving average of $346.20. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. The stock has a market capitalization of $193.54 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 3.54 and a beta of 0.42.

Amgen (NASDAQ:AMGN) last announced its 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. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period last year, the firm earned $4.90 earnings per share. Amgen’s revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 22.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $323.73, for a total value of $400,454.01. Following the completion of the sale, the senior vice president owned 7,009 shares of the company’s stock, valued at $2,269,023.57. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMGN. Royal Bank Of Canada restated a “positive” rating on shares of Amgen in a report on Thursday, June 18th. Truist Financial lifted their price target on Amgen from $325.00 to $327.00 and gave the company a “hold” rating in a report on Friday, May 1st. Erste Group Bank reissued a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Guggenheim decreased their price objective on Amgen from $351.00 to $340.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Finally, Daiwa Securities Group dropped their price objective on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average price target of $354.42.

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.