Fifth Third Bancorp Boosts Stock Position in Amgen Inc. $AMGN

Fifth Third Bancorp increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 57.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 461,207 shares of the medical research company’s stock after buying an additional 167,835 shares during the period. Fifth Third Bancorp’s holdings in Amgen were worth $162,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. High Note Wealth LLC raised its position in shares of Amgen by 5.8% in the fourth quarter. High Note Wealth LLC now owns 508 shares of the medical research company’s stock valued at $166,000 after buying an additional 28 shares during the last quarter. TAGStone Capital Inc. boosted its position in Amgen by 0.7% during the fourth quarter. TAGStone Capital Inc. now owns 4,129 shares of the medical research company’s stock worth $1,351,000 after acquiring an additional 28 shares during the last quarter. Verus Capital Partners LLC grew its stake in Amgen by 2.3% during the 4th quarter. Verus Capital Partners LLC now owns 1,231 shares of the medical research company’s stock valued at $403,000 after acquiring an additional 28 shares in the last quarter. Destination Wealth Management raised its holdings in Amgen by 2.1% in the 4th quarter. Destination Wealth Management now owns 1,393 shares of the medical research company’s stock valued at $456,000 after acquiring an additional 29 shares during the last quarter. Finally, Breakwater Capital Group raised its holdings in Amgen by 1.4% in the 1st quarter. Breakwater Capital Group now owns 2,039 shares of the medical research company’s stock valued at $717,000 after acquiring an additional 29 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AMGN. Daiwa Securities Group cut their price target on Amgen from $410.00 to $390.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Piper Sandler restated an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Canaccord Genuity Group started coverage on Amgen in a research note on Monday, April 20th. They issued a “hold” rating and a $366.00 target price for the company. Freedom Capital upgraded shares of Amgen from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Argus reduced their target price on shares of Amgen from $400.00 to $375.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus target price of $355.73.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,237 shares of the 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 sale, the senior vice president directly owned 7,009 shares in the company, valued at $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.85% of the stock is currently owned by insiders.

Amgen Trading Down 0.1%

Shares of NASDAQ:AMGN traded down $0.23 during mid-day trading on Friday, reaching $363.39. 1,632,617 shares of the company were exchanged, compared to its average volume of 2,658,015. Amgen Inc. has a 1 year low of $269.77 and a 1 year high of $391.29. The firm’s 50-day simple moving average is $344.81 and its 200 day simple moving average is $349.32. The firm has a market cap of $196.13 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 3.59 and a beta of 0.41. 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, beating analysts’ consensus estimates of $4.77 by $0.38. The company 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%.Amgen’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $4.90 EPS. 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 year.

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.