PNC Financial Services Group Inc. Acquires 24,577 Shares of Amgen Inc. $AMGN

PNC Financial Services Group Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% in the 1st quarter, Holdings Channel reports. The fund owned 1,073,540 shares of the medical research company’s stock after buying an additional 24,577 shares during the period. PNC Financial Services Group Inc.’s holdings in Amgen were worth $377,725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Sivia Capital Partners LLC raised its position in Amgen by 10.6% in the second quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock valued at $331,000 after purchasing an additional 114 shares during the last quarter. Schnieders Capital Management LLC. boosted its stake in shares of Amgen by 29.3% during the second quarter. Schnieders Capital Management LLC. now owns 25,859 shares of the medical research company’s stock valued at $7,220,000 after purchasing an additional 5,853 shares in the last quarter. Main Street Financial Solutions LLC boosted its stake in shares of Amgen by 11.3% during the second quarter. Main Street Financial Solutions LLC now owns 4,086 shares of the medical research company’s stock valued at $1,141,000 after purchasing an additional 416 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in shares of Amgen by 5.1% in the second quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock valued at $15,120,000 after buying an additional 2,611 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $350.00 price objective on shares of Amgen in a report on Monday, July 6th. Morgan Stanley dropped their price target on shares of Amgen from $340.00 to $333.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. BMO Capital Markets reiterated an “outperform” rating and set a $400.00 price target on shares of Amgen in a report on Wednesday, July 1st. Royal Bank Of Canada reissued a “positive” rating on shares of Amgen in a research note on Thursday, June 18th. Finally, Piper Sandler restated an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $356.62.

Amgen Trading Up 0.6%

NASDAQ:AMGN opened at $366.24 on Wednesday. The firm’s fifty day moving average is $348.98 and its 200-day moving average is $351.05. 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 Inc. has a 52 week low of $269.77 and a 52 week high of $391.29. The firm has a market cap of $197.66 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.68 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last announced 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 business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.58 billion. Amgen had a net margin of 20.96% and a return on equity of 137.41%. Amgen’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities analysts expect that Amgen Inc. will post 22.31 earnings per share for the current year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 1,237 shares of the business’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 transaction, the senior vice president directly owned 7,009 shares of the company’s stock, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.85% of the company’s stock.

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.