Summit Securities Group LLC Sells 1,536 Shares of Amgen Inc. $AMGN

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

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dogwood Wealth Management LLC increased its holdings in shares of Amgen by 275.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 75 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 55 shares in the last quarter. Anfield Capital Management LLC lifted its holdings in shares of Amgen by 1,000.0% in the 4th quarter. Anfield Capital Management LLC now owns 77 shares of the medical research company’s stock worth $25,000 after purchasing an additional 70 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Amgen in the 4th quarter valued at $26,000. Tower View Wealth Management LLC grew its position in Amgen by 331.6% in the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 63 shares during the period. Finally, Manning & Napier Advisors LLC increased its stake in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $363.62 on Friday. 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 firm has a 50-day moving average of $344.30 and a 200-day moving average of $349.22. Amgen Inc. has a one year low of $269.77 and a one year high of $391.29. 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 results on Thursday, April 30th. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.77 by $0.38. Amgen had a net margin of 20.96% and a return on equity of 137.41%. The business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.58 billion. During the same period in the previous year, the company earned $4.90 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Equities research analysts forecast that Amgen Inc. will post 22.32 EPS for the current fiscal year.

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 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 completion of the transaction, the senior vice president directly owned 7,009 shares of the company’s stock, valued at $2,269,023.57. This represents a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMGN shares. Cantor Fitzgerald restated a “neutral” rating and set a $350.00 price objective on shares of Amgen in a report on Monday. Guggenheim reduced their price objective on shares of Amgen from $351.00 to $340.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Amgen in a research report on Thursday, June 18th. Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group set a $389.00 price target on shares of Amgen in a research report on Friday, June 5th. Two research 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, the stock currently has a consensus rating of “Hold” and a consensus target price of $355.73.

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.