Dakota Wealth Management Increases Position in Amgen Inc. (NASDAQ:AMGN)

Dakota Wealth Management lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,929 shares of the medical research company's stock after buying an additional 3,963 shares during the period. Dakota Wealth Management's holdings in Amgen were worth $12,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in AMGN. Pinney & Scofield Inc. acquired a new stake in shares of Amgen during the 4th quarter worth approximately $26,000. First Pacific Financial increased its holdings in shares of Amgen by 304.5% during the 1st 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 increased its holdings 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. Heck Capital Advisors LLC acquired a new stake in Amgen in the 4th quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC increased its holdings in Amgen by 46.9% in the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Performance

Shares of Amgen stock traded down $1.85 on Thursday, reaching $297.17. 666,477 shares of the stock were exchanged, compared to its average volume of 2,832,417. 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 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The business has a fifty day moving average price of $284.80 and a two-hundred day moving average price of $288.65. The firm has a market capitalization of $159.79 billion, a PE ratio of 27.14, a PEG ratio of 2.64 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 net margin of 17.39% and a return on equity of 176.11%. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period in the prior year, the business posted $3.96 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research reports. Mizuho boosted their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $328.00 price objective on shares of Amgen in a research report on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average price target of $307.82.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is owned by company insiders.

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.