Amgen Inc. (NASDAQ:AMGN) Holdings Lifted by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. lifted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,178 shares of the medical research company's stock after purchasing an additional 2,890 shares during the quarter. Adell Harriman & Carpenter Inc.'s holdings in Amgen were worth $5,975,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the fourth quarter valued at approximately $26,000. First Pacific Financial boosted its stake in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its stake in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after buying an additional 51 shares during the last quarter. Atala Financial Inc acquired a new position in Amgen during the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Amgen in the 4th quarter valued at $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's 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 transaction, the senior vice president directly owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada cut their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Mizuho lifted their price target on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. UBS Group reaffirmed a "neutral" rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $328.00 price objective on shares of Amgen in a report on Friday, June 27th. Finally, Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $307.82.

Amgen Stock Up 1.4%

NASDAQ:AMGN traded up $4.05 during trading hours on Tuesday, hitting $297.00. The stock had a trading volume of 1,534,105 shares, compared to its average volume of 3,063,257. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The business has a 50 day simple moving average of $282.66 and a two-hundred day simple moving average of $287.38. The company has a market cap of $159.70 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 2.70 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. 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 company earned $3.96 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

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.