Summit Securities Group LLC Decreases Holdings in Amgen Inc. $AMGN

Summit Securities Group LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 85.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 264 shares of the medical research company’s stock after selling 1,536 shares during the period. Summit Securities Group LLC’s holdings in Amgen were worth $93,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in Amgen during the fourth quarter worth about $2,164,162,000. Capital World Investors boosted its stake in Amgen by 22.9% in the fourth quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock valued at $7,560,249,000 after acquiring an additional 4,302,237 shares during the last quarter. State Street Corp grew its position in shares of Amgen by 4.4% during 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 acquiring an additional 1,287,310 shares during the period. Geode Capital Management LLC grew its position in shares of Amgen by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after acquiring an additional 1,035,779 shares during the period. Finally, Amundi increased its stake in shares of Amgen by 41.1% during the 4th quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock worth $1,111,854,000 after purchasing an additional 988,856 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Piper Sandler reissued an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Erste Group Bank reissued a “hold” rating on shares of Amgen in a research report on Tuesday, May 5th. Truist Financial boosted their target price on Amgen from $327.00 to $340.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Argus dropped their price target on Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $355.73.

Insider Buying and Selling at Amgen

In other 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 transaction of $400,454.01. Following the sale, the senior vice president directly 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 at this link. 0.85% of the stock is currently owned by corporate insiders.

Amgen Trading Down 1.2%

NASDAQ:AMGN opened at $363.62 on Friday. Amgen Inc. has a 1 year low of $269.77 and a 1 year high of $391.29. The stock’s fifty day moving average price is $344.30 and its two-hundred day moving average price is $349.22. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01. The company has a market cap of $196.25 billion, a P/E ratio of 25.30, a P/E/G ratio of 3.63 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 analyst estimates 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 previous year, the company posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. As a group, analysts expect that Amgen Inc. will post 22.32 EPS for the current year.

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.