Meyer Handelman Co. Trims Holdings in Amgen Inc. $AMGN

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

A number of other hedge funds have also recently made changes to their positions in the stock. Dogwood Wealth Management LLC raised its stake 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 grew its stake in Amgen by 1,000.0% in the fourth 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 bought a new position in Amgen in the fourth quarter worth approximately $26,000. Tower View Wealth Management LLC increased its holdings in Amgen by 331.6% during the 1st quarter. Tower View Wealth Management LLC now owns 82 shares of the medical research company’s stock worth $29,000 after purchasing an additional 63 shares during the period. Finally, Manning & Napier Advisors LLC increased its holdings in Amgen by 49.2% during the 4th quarter. Manning & Napier Advisors LLC now owns 97 shares of the medical research company’s stock worth $32,000 after purchasing an additional 32 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Shares of AMGN stock opened at $352.82 on Friday. Amgen Inc. has a 1-year low of $269.77 and a 1-year high of $391.29. The stock’s 50-day moving average is $340.49 and its 200 day moving average is $346.11. The company has a market cap of $190.42 billion, a P/E ratio of 24.55, a PEG ratio of 3.53 and a beta of 0.42. The company has a debt-to-equity ratio of 5.65, a current ratio of 1.26 and a quick ratio of 1.01.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, April 30th. The medical research company reported $5.15 EPS 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%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.90 earnings per share. 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 fiscal year.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 1,237 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were 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 owned 7,009 shares in the company, valued at $2,269,023.57. The trade was a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AMGN shares. UBS Group upped their target price on Amgen from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Daiwa Securities Group cut their price target on Amgen from $410.00 to $390.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Mizuho lifted their price objective on Amgen from $295.00 to $303.00 and gave the company a “neutral” rating in a report on Tuesday, June 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $350.00 price objective on shares of Amgen in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada reiterated a “positive” rating on shares of Amgen in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $354.42.

Amgen Company 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.