Independent Solutions Wealth Management LLC Acquires 74 Shares of Amgen Inc. (NASDAQ:AMGN)

Independent Solutions Wealth Management LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 8,987 shares of the medical research company’s stock after purchasing an additional 74 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Amgen were worth $2,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in AMGN. Brighton Jones LLC boosted its holdings in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after buying an additional 5,226 shares during the period. World Equity Group Inc. lifted its position in Amgen by 19.7% during the fourth quarter. World Equity Group Inc. now owns 983 shares of the medical research company’s stock worth $256,000 after acquiring an additional 162 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Amgen during the fourth quarter worth approximately $694,000. IFP Advisors Inc grew its position in shares of Amgen by 6.2% in the fourth quarter. IFP Advisors Inc now owns 6,102 shares of the medical research company’s stock valued at $1,591,000 after purchasing an additional 357 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its stake in shares of Amgen by 4.3% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 4,913 shares of the medical research company’s stock worth $1,280,000 after purchasing an additional 204 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on AMGN. Guggenheim began coverage on Amgen in a report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price target for the company. Bank of America increased their price objective on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Mizuho lifted their target price on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Piper Sandler decreased their price target on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Finally, Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus price target of $309.22.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by insiders.

Amgen Stock Up 1.9%

Shares of AMGN opened at $277.49 on Wednesday. The firm has a 50 day simple moving average of $281.03 and a two-hundred day simple moving average of $286.04. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a market cap of $149.21 billion, a P/E ratio of 25.32, a P/E/G ratio of 2.46 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last issued 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 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the company posted $3.96 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Company Profile

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.