Prentice Wealth Management LLC Buys 79 Shares of Amgen Inc. (NASDAQ:AMGN)

Prentice Wealth Management LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,831 shares of the medical research company’s stock after purchasing an additional 79 shares during the period. Prentice Wealth Management LLC’s holdings in Amgen were worth $570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new stake in Amgen in the 4th quarter valued at approximately $25,000. Pinney & Scofield Inc. bought a new position in shares of Amgen during the 4th quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE raised its holdings 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 valued at $33,000 after purchasing an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new stake in shares of Amgen in the fourth quarter worth $34,000. Finally, Atala Financial Inc acquired a new position in Amgen during the fourth quarter worth $34,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AMGN shares. Cantor Fitzgerald began coverage on shares of Amgen in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target on the stock. Royal Bank of Canada lowered their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Piper Sandler decreased their price target on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $309.22.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Amgen Trading Down 0.7%

Shares of NASDAQ:AMGN opened at $295.22 on Friday. The stock has a market cap of $158.74 billion, a PE ratio of 39.10, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The business has a 50 day moving average of $281.33 and a 200-day moving average of $285.62.

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. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.96 EPS. As a group, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

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.