Rockefeller Capital Management L.P. Buys 138,577 Shares of Amgen Inc. $AMGN

Rockefeller Capital Management L.P. increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 27.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 642,161 shares of the medical research company’s stock after purchasing an additional 138,577 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Amgen were worth $210,186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Norges Bank bought a new stake in shares of Amgen in the 4th quarter worth approximately $2,164,162,000. Capital World Investors grew its holdings in shares of Amgen by 22.9% during the 4th quarter. Capital World Investors now owns 23,097,711 shares of the medical research company’s stock worth $7,560,249,000 after purchasing an additional 4,302,237 shares in the last quarter. State Street Corp increased its position in shares of Amgen by 4.4% during the fourth quarter. State Street Corp now owns 30,591,403 shares of the medical research company’s stock valued at $10,012,872,000 after purchasing an additional 1,287,310 shares during the period. Geode Capital Management LLC increased its position in shares of Amgen by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 14,303,294 shares of the medical research company’s stock valued at $4,665,822,000 after purchasing an additional 1,035,779 shares during the period. Finally, Amundi raised its stake in shares of Amgen by 41.1% in the fourth quarter. Amundi now owns 3,396,945 shares of the medical research company’s stock valued at $1,111,854,000 after purchasing an additional 988,856 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Shares of AMGN stock opened at $337.60 on Friday. The stock’s fifty day simple moving average is $340.71 and its 200 day simple moving average is $345.76. Amgen Inc. has a one year low of $267.83 and a one year high of $391.29. The firm has a market cap of $182.21 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 3.39 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 released its quarterly earnings data on Thursday, April 30th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.77 by $0.38. The firm had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.58 billion. Amgen had a return on equity of 137.41% and a net margin of 20.96%.The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.90 earnings per share. Amgen has set its FY 2026 guidance at 21.700-23.100 EPS. On average, analysts expect that Amgen Inc. will post 22.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMGN shares. Morgan Stanley raised their target price on Amgen from $332.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 9th. Jefferies Financial Group initiated coverage on shares of Amgen in a research note on Tuesday, March 10th. They issued a “hold” rating and a $350.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating on shares of Amgen in a report on Friday, June 12th. Truist Financial lifted their target price on shares of Amgen from $325.00 to $327.00 and gave the company a “hold” rating in a research report on Friday, May 1st. Finally, Barclays started coverage on shares of Amgen in a research note on Friday, February 20th. They issued an “equal weight” rating and a $350.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $354.42.

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 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 sale, the senior vice president owned 7,009 shares of the company’s stock, valued at approximately $2,269,023.57. This represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

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.