Cetera Trust Company N.A Has $2.89 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Cetera Trust Company N.A raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,288 shares of the medical research company’s stock after buying an additional 50 shares during the period. Amgen comprises about 1.8% of Cetera Trust Company N.A’s holdings, making the stock its 11th largest position. Cetera Trust Company N.A’s holdings in Amgen were worth $2,894,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ascent Wealth Partners LLC grew its holdings in shares of Amgen by 0.7% in the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after acquiring an additional 64 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its position in shares of Amgen by 242.2% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock valued at $6,255,000 after purchasing an additional 16,985 shares during the period. Fisher Asset Management LLC lifted its position in shares of Amgen by 285.4% during the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock worth $102,820,000 after acquiring an additional 292,137 shares in the last quarter. Aire Advisors LLC lifted its holdings in shares of Amgen by 26.3% in the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock worth $3,461,000 after buying an additional 2,762 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new position in Amgen in the 4th quarter valued at $3,531,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMGN. Royal Bank of Canada reduced their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Johnson Rice set a $294.00 target price on Amgen in a research note on Wednesday, March 5th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Bank of America boosted their target price on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Finally, Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. 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, Amgen has an average rating of “Hold” and a consensus target price of $309.22.

Amgen Trading Up 1.1%

Shares of NASDAQ:AMGN opened at $290.33 on Monday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock 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 stock’s 50-day simple moving average is $281.57 and its two-hundred day simple moving average is $285.39.

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 analysts’ consensus estimates 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 net margin of 12.24% and a return on equity of 176.32%. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.96 EPS. Analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by corporate insiders.

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.