PFW Advisors LLC Increases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

PFW Advisors LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,364 shares of the medical research company’s stock after purchasing an additional 126 shares during the period. PFW Advisors LLC’s holdings in Amgen were worth $1,360,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tallon Kerry Patrick bought a new position in shares of Amgen in the fourth quarter worth approximately $270,000. Brighton Jones LLC boosted its stake in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in shares of Amgen by 18.8% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,691 shares of the medical research company’s stock valued at $439,000 after buying an additional 268 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Amgen in the 4th quarter worth about $9,313,000. Finally, Golden State Wealth Management LLC bought a new position in Amgen during the fourth quarter valued at approximately $478,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of AMGN opened at $290.33 on Friday. Amgen Inc. has a 1 year low of $253.30 and a 1 year 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 company has a market cap of $156.11 billion, a price-to-earnings ratio of 38.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The firm has a fifty day moving average of $281.57 and a 200-day moving average of $285.42.

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

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on shares of Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 target price for the company. Bank of America lifted their price target on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Piper Sandler dropped their price target on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Amgen presently has an average rating of “Hold” and an average price target of $309.22.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.