Advisor Resource Council Takes Position in Amgen Inc. (NASDAQ:AMGN)

Advisor Resource Council purchased a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,272 shares of the medical research company's stock, valued at approximately $1,331,000.

A number of other large investors also recently bought and sold shares of the business. Centricity Wealth Management LLC bought a new stake in shares of Amgen during the fourth quarter worth $25,000. Pinney & Scofield Inc. purchased a new position in Amgen in the 4th quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE increased its stake in Amgen by 66.2% in the 4th 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 period. Synergy Investment Management LLC bought a new stake in Amgen during the 4th quarter valued at about $34,000. Finally, Atala Financial Inc purchased a new stake in Amgen in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AMGN shares. Piper Sandler decreased their price target on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Cantor Fitzgerald assumed coverage on Amgen in a report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price objective on the stock. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Finally, Morgan Stanley restated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Two 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $309.22.

Amgen Stock Down 0.1%

Shares of Amgen stock traded down $0.30 during trading on Friday, reaching $289.33. The company's stock had a trading volume of 6,801,322 shares, compared to its average volume of 2,818,791. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a 50-day simple moving average of $281.82 and a two-hundred day simple moving average of $286.02. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The company has a market cap of $155.58 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 2.62 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share 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 business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the firm earned $3.96 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Insiders Place Their Bets

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 completion of the transaction, the senior vice president now owns 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.76% of the stock is owned by 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.