Meyer Handelman Co. Reduces Stock Holdings in Amgen Inc. $AMGN

Meyer Handelman Co. reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,765 shares of the medical research company’s stock after selling 3,466 shares during the period. Amgen makes up 1.3% of Meyer Handelman Co.’s holdings, making the stock its 24th largest position. Meyer Handelman Co.’s holdings in Amgen were worth $40,732,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Sivia Capital Partners LLC grew its position in Amgen by 10.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,186 shares of the medical research company’s stock worth $331,000 after purchasing an additional 114 shares during the last quarter. Schnieders Capital Management LLC. increased its stake in Amgen by 29.3% during the 2nd 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 increased its stake in Amgen by 11.3% during the 2nd 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 Amgen by 5.1% during the 2nd quarter. Ieq Capital LLC now owns 54,152 shares of the medical research company’s stock valued at $15,120,000 after purchasing an additional 2,611 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN opened at $352.82 on Friday. The business’s 50-day moving average is $340.49 and its two-hundred day moving average is $346.11. The company has a market capitalization of $190.42 billion, a P/E ratio of 24.55, a P/E/G ratio of 3.53 and a beta of 0.42. 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 fifty-two week low of $269.77 and a fifty-two week high of $391.29.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.77 by $0.38. The business had revenue of $8.62 billion during the quarter, compared to analysts’ expectations of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.90 EPS. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. Research analysts predict that Amgen Inc. will post 22.38 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on AMGN. Royal Bank Of Canada reiterated a “positive” rating on shares of Amgen in a research note on Thursday, June 18th. Wells Fargo & Company upped their target price on Amgen from $375.00 to $390.00 and gave the company an “equal weight” rating in a research report on Thursday, March 19th. Wall Street Zen upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Mizuho boosted their price target on Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a research note on Tuesday, June 16th. Finally, Piper Sandler reissued an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $354.42.

Insiders Place Their Bets

In related 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 transaction of $400,454.01. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

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.