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

PNC Financial Services Group Inc. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,073,540 shares of the medical research company’s stock after acquiring an additional 24,577 shares during the period. PNC Financial Services Group Inc. owned about 0.20% of Amgen worth $377,725,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. raised its position in Amgen by 10.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 481,453 shares of the medical research company’s stock valued at $157,584,000 after buying an additional 43,884 shares during the last quarter. Curtis Advisory Group LLC acquired a new position in Amgen during the 4th quarter worth approximately $1,669,000. Adell Harriman & Carpenter Inc. boosted its position in Amgen by 7.9% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 22,008 shares of the medical research company’s stock worth $7,204,000 after acquiring an additional 1,609 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Amgen during the 4th quarter worth approximately $22,441,000. Finally, Robinhood Asset Management LLC bought a new position in shares of Amgen during the 4th quarter worth approximately $17,526,000. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

AMGN opened at $366.24 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.26 and a debt-to-equity ratio of 5.65. Amgen Inc. has a 12-month low of $269.77 and a 12-month high of $391.29. The business has a 50 day moving average of $348.98 and a 200-day moving average of $351.05. The stock has a market cap of $197.66 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.68 and a beta of 0.41.

Amgen (NASDAQ:AMGN) last posted 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. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.58 billion. During the same period in the previous year, the firm earned $4.90 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, equities research analysts expect that Amgen Inc. will post 22.31 earnings per share for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were 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 in the company, valued at approximately $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 accessible through this link. Company insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AMGN shares. Weiss Ratings lowered shares of Amgen from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, July 15th. Daiwa Securities Group decreased their target price on shares of Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Truist Financial lifted their price target on shares of Amgen from $327.00 to $340.00 and gave the company a “hold” rating in a research note on Tuesday, July 7th. Canaccord Genuity Group assumed coverage on shares of Amgen in a research report on Monday, April 20th. They set a “hold” rating and a $366.00 price target on the stock. Finally, The Goldman Sachs Group set a $389.00 price objective on Amgen in a 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 assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $356.62.

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.