4,376 Shares in Amgen Inc. (NASDAQ:AMGN) Acquired by Tounjian Advisory Partners LLC

Tounjian Advisory Partners LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,376 shares of the medical research company's stock, valued at approximately $1,363,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Capital World Investors boosted its stake in Amgen by 1,292.0% in 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 during the period. Norges Bank bought a new position in Amgen during the 4th quarter worth $1,541,991,000. GAMMA Investing LLC lifted its holdings in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after buying an additional 3,653,205 shares in the last quarter. Capital International Investors boosted 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 acquiring an additional 3,495,503 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 acquiring an additional 2,672,975 shares during the period. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMGN. Cantor Fitzgerald began coverage on shares of Amgen in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price target on the stock. Guggenheim started coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $309.22.

Amgen Stock Up 1.1%

Shares of AMGN opened at $290.33 on Monday. 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. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a fifty day moving average of $281.57 and a 200-day moving average of $285.39.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period last year, the firm posted $3.96 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business's 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 transaction, the senior vice president now owns 8,162 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. 0.76% of the stock is currently owned by company insiders.

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.

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