Amgen Inc. (NASDAQ:AMGN) Shares Bought by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 846.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 190,736 shares of the medical research company's stock after purchasing an additional 170,577 shares during the period. Amgen makes up about 1.2% of Ferguson Wellman Capital Management Inc.'s holdings, making the stock its 25th largest position. Ferguson Wellman Capital Management Inc.'s holdings in Amgen were worth $59,424,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the 4th quarter worth $25,000. Pinney & Scofield Inc. acquired a new position in shares of Amgen during the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of Amgen by 66.2% during 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 last quarter. Synergy Investment Management LLC acquired a new position in shares of Amgen during the 4th quarter worth $34,000. Finally, Atala Financial Inc acquired a new position in shares of Amgen during the 4th quarter worth $34,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Johnson Rice set a $294.00 target price on shares of Amgen in a research note on Wednesday, March 5th. 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 note on Friday, May 16th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Mizuho upped their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, UBS Group reaffirmed a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Two equities research 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 data from MarketBeat, Amgen has an average rating of "Hold" and a consensus target price of $309.22.

Amgen Stock Down 0.7%

NASDAQ:AMGN traded down $2.07 during trading hours on Friday, hitting $295.22. The stock had a trading volume of 2,191,182 shares, compared to its average volume of 2,820,660. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a market cap of $158.74 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The business has a 50 day simple moving average of $281.33 and a two-hundred day simple moving average of $285.62.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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 net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the company earned $3.96 earnings per share. The business's quarterly revenue was up 9.4% compared to the same quarter last year. Analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

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 stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now directly owns 8,162 shares in the company, 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 can be accessed through this link. 0.76% of the stock is currently owned by company 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.