Amgen Inc. $AMGN Shares Sold by Raleigh Capital Management Inc.

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

Other hedge funds have also made changes to their positions in the company. Walkner Condon Financial Advisors LLC increased its stake in shares of Amgen by 7.8% in the first quarter. Walkner Condon Financial Advisors LLC now owns 1,039 shares of the medical research company’s stock worth $366,000 after buying an additional 75 shares during the last quarter. Kepler Cheuvreux Suisse SA bought a new position in Amgen during the 1st quarter valued at $866,000. St. Johns Investment Management Company LLC boosted its stake in Amgen by 0.9% during the 1st quarter. St. Johns Investment Management Company LLC now owns 5,261 shares of the medical research company’s stock valued at $1,851,000 after acquiring an additional 46 shares during the last quarter. Revisor Wealth Management LLC grew its holdings in Amgen by 1.1% during the 1st quarter. Revisor Wealth Management LLC now owns 3,141 shares of the medical research company’s stock worth $1,105,000 after acquiring an additional 34 shares in the last quarter. Finally, Beacon Financial Advisory LLC grew its holdings in Amgen by 3.7% during the 1st quarter. Beacon Financial Advisory LLC now owns 1,249 shares of the medical research company’s stock worth $439,000 after acquiring an additional 44 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $374.15 on Friday. The stock has a market capitalization of $201.93 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 3.68 and a beta of 0.41. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $391.29. The company’s fifty day moving average is $342.43 and its two-hundred day moving average is $347.93. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.01 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $8.58 billion. During the same period last year, the firm posted $4.90 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities analysts anticipate that Amgen Inc. will post 22.39 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMGN. Piper Sandler restated an “overweight” rating on shares of Amgen in a research note on Friday, June 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $350.00 price target on shares of Amgen in a research report on Wednesday, April 8th. Jefferies Financial Group started coverage on Amgen in a research note on Tuesday, March 10th. They issued a “hold” rating and a $350.00 price target for the company. Truist Financial boosted their price objective on Amgen from $325.00 to $327.00 and gave the company a “hold” rating in a report on Friday, May 1st. Finally, Wells Fargo & Company upped their price objective on Amgen from $375.00 to $390.00 and gave the company an “equal weight” rating in a research note on Thursday, March 19th. Two investment 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 data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus price target of $355.50.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $323.73, for a total value of $400,454.01. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by company insiders.

Amgen 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.