Jennison Associates LLC Reduces Position in Amgen Inc. $AMGN

Jennison Associates LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 1.9% in the first quarter, HoldingsChannel.com reports. The fund owned 129,980 shares of the medical research company’s stock after selling 2,484 shares during the quarter. Jennison Associates LLC’s holdings in Amgen were worth $45,733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Dogwood Wealth Management LLC lifted 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 valued at $25,000 after purchasing an additional 55 shares in the last quarter. Anfield Capital Management LLC grew its holdings in shares of Amgen by 1,000.0% during the fourth quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after buying an additional 70 shares in the last quarter. Tower View Wealth Management LLC grew its holdings 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 worth $29,000 after buying an additional 63 shares in the last quarter. Manning & Napier Advisors LLC raised its position in shares of Amgen by 49.2% in 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 last quarter. Finally, Olistico Wealth LLC acquired a new position in shares of Amgen in the fourth quarter valued at approximately $33,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMGN. Royal Bank Of Canada restated a “positive” rating on shares of Amgen in a research report on Thursday, June 18th. Canaccord Genuity Group began coverage on Amgen in a research note on Monday, April 20th. They set a “hold” rating and a $366.00 price target on the stock. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Erste Group Bank reaffirmed a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Amgen in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus target price of $356.62.

Amgen Stock Performance

Shares of AMGN stock opened at $364.17 on Tuesday. Amgen Inc. has a one year low of $269.77 and a one year high of $391.29. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26. The company has a 50 day moving average price of $348.38 and a 200 day moving average price of $350.78. The firm has a market capitalization of $196.55 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 3.71 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Sell-side analysts anticipate that Amgen Inc. will post 22.31 EPS for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the 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 transaction, the senior vice president directly owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. This trade represents a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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.