Consolidated Planning Corp Has $1.68 Million Position in Amgen Inc. (NASDAQ:AMGN)

Consolidated Planning Corp increased its position in Amgen Inc. (NASDAQ:AMGN) by 207.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,377 shares of the medical research company’s stock after buying an additional 3,628 shares during the period. Consolidated Planning Corp’s holdings in Amgen were worth $1,675,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC increased its holdings in Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after buying an additional 34 shares during the last quarter. Continuum Advisory LLC increased its holdings in Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock worth $1,343,000 after buying an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC increased its holdings in Amgen by 1.5% in the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock worth $759,000 after buying an additional 35 shares during the last quarter. Trillium Asset Management LLC boosted its position in Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after purchasing an additional 37 shares during the period. Finally, Affinity Capital Advisors LLC boosted its position in Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock worth $246,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMGN shares. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Royal Bank Of Canada decreased their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Piper Sandler decreased their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Cantor Fitzgerald started coverage on Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 target price for the company. Finally, Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $309.22.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $289.33 on Monday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm has a market cap of $155.58 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.62 and a beta of 0.51. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The business has a fifty day moving average of $281.82 and a 200-day moving average of $286.10.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period last year, the company posted $3.96 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal 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.