Towne Trust Company N.A Cuts Stock Position in Amgen Inc. $AMGN

Towne Trust Company N.A decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 12.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,700 shares of the medical research company’s stock after selling 2,720 shares during the period. Amgen comprises 2.2% of Towne Trust Company N.A’s investment portfolio, making the stock its 11th biggest position. Towne Trust Company N.A’s holdings in Amgen were worth $6,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its holdings 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 in the last quarter. Curtis Advisory Group LLC acquired a new position in Amgen during the 4th quarter worth approximately $1,669,000. Adell Harriman & Carpenter Inc. increased its position in shares of Amgen by 7.9% in 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. acquired a new stake in shares of Amgen in the 4th quarter valued at $22,441,000. Finally, Robinhood Asset Management LLC purchased a new stake in shares of Amgen during the 4th quarter worth $17,526,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AMGN shares. Canaccord Genuity Group initiated coverage on shares of Amgen in a research note on Monday, April 20th. They set a “hold” rating and a $366.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Amgen in a report on Thursday, June 18th. Truist Financial upped their price objective on Amgen from $325.00 to $327.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Wall Street Zen cut Amgen from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Argus dropped their price objective on Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $354.42.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the company’s stock in a transaction dated 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 directly owned 7,009 shares of the company’s stock, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

Amgen Trading Up 1.6%

Shares of Amgen stock opened at $358.61 on Friday. 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 company has a fifty day simple moving average of $340.70 and a 200-day simple moving average of $346.20. The stock has a market cap of $193.54 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 3.60 and a beta of 0.42. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $391.29.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS for the quarter, topping 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 firm had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same period last year, the business earned $4.90 EPS. Amgen’s revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities analysts forecast that Amgen Inc. will post 22.38 EPS for the current fiscal year.

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.