AA Financial Advisors LLC Makes New $524,000 Investment in Amgen Inc. (NASDAQ:AMGN)

AA Financial Advisors LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,682 shares of the medical research company's stock, valued at approximately $524,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ascent Wealth Partners LLC boosted its stake in 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 during the last quarter. ICICI Prudential Asset Management Co Ltd lifted its stake in 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 last quarter. Fisher Asset Management LLC lifted its stake in Amgen by 285.4% in the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock valued at $102,820,000 after purchasing an additional 292,137 shares during the last quarter. Aire Advisors LLC grew its holdings in Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock valued at $3,461,000 after purchasing an additional 2,762 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. purchased a new stake in Amgen in the fourth quarter worth $3,531,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $295.56 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock has a market cap of $158.92 billion, a PE ratio of 39.15, a PEG ratio of 2.63 and a beta of 0.51. The company's fifty day moving average is $281.64 and its 200 day moving average is $285.75. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) 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. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the company posted $3.96 EPS. Amgen's revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMGN shares. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Piper Sandler cut their target price on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Royal Bank of Canada dropped their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald began coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price objective for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $309.22.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction 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 sale, the senior vice president now owns 8,162 shares of the company's stock, valued at $2,364,368.16. This trade 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 owned by insiders.

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.

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