Amgen Inc. $AMGN Stake Reduced by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 36.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,011 shares of the medical research company’s stock after selling 2,316 shares during the period. Raleigh Capital Management Inc.’s holdings in Amgen were worth $1,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMGN. Vanguard Group Inc. increased its holdings in shares of Amgen by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 54,838,826 shares of the medical research company’s stock worth $17,949,296,000 after acquiring an additional 961,975 shares during the period. State Street Corp lifted its position in Amgen by 4.4% in the 4th quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after purchasing an additional 1,287,310 shares during the last quarter. Capital World Investors boosted its stake in Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after purchasing an additional 4,302,237 shares during the period. Capital International Investors boosted its stake in Amgen by 1.5% during the 3rd quarter. Capital International Investors now owns 19,192,995 shares of the medical research company’s stock valued at $5,414,296,000 after purchasing an additional 282,219 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Amgen by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock worth $4,665,822,000 after buying an additional 1,035,779 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN opened at $374.15 on Friday. Amgen Inc. has a 12 month low of $269.77 and a 12 month high of $391.29. The firm has a market capitalization of $201.93 billion, a PE ratio of 26.04, a P/E/G ratio of 3.68 and a beta of 0.41. The company’s 50 day simple moving average is $342.43 and its 200 day simple moving average is $347.93. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01.

Amgen (NASDAQ:AMGN) last released its 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 firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm 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 forecast that Amgen Inc. will post 22.39 EPS for the current fiscal year.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the company’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 in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on AMGN shares. Guggenheim lowered their target price on Amgen from $351.00 to $340.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Wall Street Zen lowered Amgen from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. The Goldman Sachs Group set a $389.00 price target on Amgen in a research note on Friday, June 5th. Argus lowered their price target on Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Finally, BMO Capital Markets restated an “outperform” rating and set a $400.00 price objective on shares of Amgen in a research note on Wednesday. Two investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $355.50.

Amgen Company 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.