Avantax Planning Partners Inc. Has $10.07 Million Stake in Amgen Inc. $AMGN

Avantax Planning Partners Inc. lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,617 shares of the medical research company’s stock after selling 2,398 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Amgen were worth $10,069,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMGN. Dogwood Wealth Management LLC increased its holdings in 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 in the last quarter. Anfield Capital Management LLC raised its position in Amgen by 1,000.0% in the fourth 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 last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Amgen during the fourth quarter valued at about $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 grew its holdings in shares of Amgen by 49.2% during the fourth quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after purchasing an additional 32 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMGN shares. Wall Street Zen downgraded Amgen from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Mizuho boosted their target price on shares of Amgen from $295.00 to $303.00 and gave the stock a “neutral” rating in a report on Tuesday, June 16th. Piper Sandler restated an “overweight” rating on shares of Amgen in a research report on Friday, June 12th. Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a research note on Tuesday, May 5th. Finally, Morgan Stanley cut their price target on shares of Amgen from $340.00 to $333.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Two equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $356.62.

Amgen Price Performance

Shares of AMGN opened at $360.45 on Tuesday. The business has a 50-day moving average of $345.09 and a 200-day moving average of $349.65. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The company has a market capitalization of $194.54 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 3.59 and a beta of 0.41. Amgen Inc. has a 1 year low of $269.77 and a 1 year high of $391.29.

Amgen (NASDAQ:AMGN) last announced its earnings results 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 business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 22.32 earnings per share for the current year.

Insider Activity

In other 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 value of $400,454.01. Following the sale, the senior vice president directly owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.85% of the company’s stock.

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.