Amgen Inc. (NASDAQ:AMGN) Stake Raised by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,442 shares of the medical research company’s stock after buying an additional 60 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Amgen were worth $1,384,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock worth $13,741,409,000 after buying an additional 339,522 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC lifted its position in Amgen by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock worth $3,245,881,000 after purchasing an additional 352,143 shares during the period. Capital International Investors boosted its stake in Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares in the last quarter. Finally, Capital World Investors boosted its stake in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Up 1.1%

NASDAQ:AMGN opened at $290.33 on Monday. The business’s fifty day moving average price is $281.57 and its 200 day moving average price is $285.39. The firm has a market capitalization of $156.11 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.63 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

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

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research reports. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Johnson Rice set a $294.00 price target on shares of Amgen in a research report on Wednesday, March 5th. Guggenheim assumed coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective for the company. 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 objective on the stock. Finally, UBS Group reissued a “neutral” rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Two 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 data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average price target of $309.22.

Amgen 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.