Gabelli Funds LLC Sells 2,735 Shares of Amgen Inc. $AMGN

Gabelli Funds LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,165 shares of the medical research company’s stock after selling 2,735 shares during the quarter. Gabelli Funds LLC’s holdings in Amgen were worth $20,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hilltop Holdings Inc. grew its stake in shares of Amgen by 77.2% during the first quarter. Hilltop Holdings Inc. now owns 6,089 shares of the medical research company’s stock valued at $2,142,000 after buying an additional 2,653 shares during the last quarter. Morningstar Investment Management LLC lifted its stake in shares of Amgen by 8.0% in the 1st quarter. Morningstar Investment Management LLC now owns 14,529 shares of the medical research company’s stock valued at $5,112,000 after acquiring an additional 1,081 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Amgen by 1.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 221,647 shares of the medical research company’s stock valued at $77,986,000 after acquiring an additional 2,766 shares during the last quarter. FCA Corp TX boosted its holdings in Amgen by 2.1% during the 1st quarter. FCA Corp TX now owns 18,432 shares of the medical research company’s stock valued at $6,485,000 after acquiring an additional 376 shares during the period. Finally, Compound Planning Inc. boosted its holdings in Amgen by 83.4% during the 1st quarter. Compound Planning Inc. now owns 17,195 shares of the medical research company’s stock valued at $6,050,000 after acquiring an additional 7,818 shares during the period. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of Amgen stock in a transaction that occurred 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 sale, the senior vice president directly owned 7,009 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of several recent research reports. BMO Capital Markets restated an “outperform” rating and set a $400.00 price target on shares of Amgen in a research report on Wednesday, July 1st. The Goldman Sachs Group set a $389.00 price objective on Amgen in a research report on Friday, June 5th. Mizuho increased their price objective on Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a research note on Tuesday, June 16th. Canaccord Genuity Group initiated coverage on shares of Amgen in a report on Monday, April 20th. They issued a “hold” rating and a $366.00 target price on the stock. Finally, Argus decreased their target price on shares of Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $356.62.

Amgen Stock Performance

Amgen stock opened at $376.04 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 firm has a market cap of $202.95 billion, a P/E ratio of 26.17, a P/E/G ratio of 3.80 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 firm has a 50-day moving average of $351.28 and a 200-day moving average of $351.80.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating 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 return on equity of 137.41% and a net margin of 20.96%.Amgen’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Sell-side analysts expect that Amgen Inc. will post 22.31 EPS for the current 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.