AE Wealth Management LLC Raises Position in Amgen Inc. (NASDAQ:AMGN)

AE Wealth Management LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 84,424 shares of the medical research company's stock after purchasing an additional 9,691 shares during the period. AE Wealth Management LLC's holdings in Amgen were worth $26,303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Wealth Partners LLC boosted its holdings in shares of Amgen by 16.3% in the 1st quarter. Summit Wealth Partners LLC now owns 1,058 shares of the medical research company's stock valued at $330,000 after purchasing an additional 148 shares during the last quarter. Notis McConarty Edward raised its holdings in shares of Amgen by 1.0% during the first quarter. Notis McConarty Edward now owns 4,107 shares of the medical research company's stock valued at $1,280,000 after acquiring an additional 42 shares during the period. Advisors Preferred LLC acquired a new position in Amgen in the 1st quarter valued at approximately $1,443,000. Grove Street Fiduciary LLC bought a new stake in shares of Amgen during the 1st quarter worth $209,000. Finally, Venturi Wealth Management LLC raised its stake in Amgen by 7.6% during the 1st quarter. Venturi Wealth Management LLC now owns 12,008 shares of the medical research company's stock valued at $3,741,000 after purchasing an additional 852 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Up 0.3%

AMGN opened at $306.74 on Wednesday. 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 Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a market capitalization of $164.94 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 2.67 and a beta of 0.49. The business has a 50-day moving average of $285.90 and a two-hundred day moving average of $289.56.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.96 EPS. On average, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of recent analyst reports. Citigroup boosted their target price on shares of Amgen from $300.00 to $305.00 and gave the stock a "neutral" rating in a report on Tuesday. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Royal Bank Of Canada lowered their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus target price of $308.77.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company'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 owned 8,162 shares of the company's stock, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.69% of the company's stock.

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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