KFG Wealth Management LLC Purchases 214 Shares of Amgen Inc. (NASDAQ:AMGN)

KFG Wealth Management LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 6.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,463 shares of the medical research company’s stock after acquiring an additional 214 shares during the period. KFG Wealth Management LLC’s holdings in Amgen were worth $1,079,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in Amgen during the 4th quarter valued at approximately $25,000. Pinney & Scofield Inc. bought a new position in Amgen during the 4th quarter valued at approximately $26,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Synergy Investment Management LLC purchased a new position in shares of Amgen in the fourth quarter worth $34,000. Finally, Atala Financial Inc purchased a new position in shares of Amgen in the fourth quarter worth $34,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $290.33 on Friday. The stock has a 50-day simple moving average of $281.57 and a two-hundred day simple moving average of $285.44. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market capitalization of $156.11 billion, a PE ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the company posted $3.96 earnings per share. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. UBS Group restated a “neutral” rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Royal Bank of Canada decreased their price target on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $309.22.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.