Hoge Financial Services LLC Invests $214,000 in Amgen Inc. (NASDAQ:AMGN)

Hoge Financial Services LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 688 shares of the medical research company’s stock, valued at approximately $214,000.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMGN shares. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Johnson Rice set a $294.00 price objective on shares of Amgen in a research report on Wednesday, March 5th. Bank of America lifted their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. 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, Royal Bank Of Canada cut their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $309.22.

Amgen Stock Down 1.9%

NASDAQ AMGN opened at $290.05 on Wednesday. The business has a fifty day moving average price of $281.62 and a two-hundred day moving average price of $285.78. The stock has a market capitalization of $155.96 billion, a PE ratio of 26.46, a PEG ratio of 2.67 and a beta of 0.51. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. 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 (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping 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 analysts’ expectations of $8.05 billion. During the same quarter in the previous year, the firm earned $3.96 EPS. Amgen’s revenue was up 9.4% on a year-over-year basis. Equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 sale, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.69% of the company’s stock.

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.