Spire Wealth Management Purchases 13,093 Shares of Amgen Inc. (NASDAQ:AMGN)

Spire Wealth Management increased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 249.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,345 shares of the medical research company's stock after buying an additional 13,093 shares during the period. Spire Wealth Management's holdings in Amgen were worth $5,715,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Advisor Resource Council purchased a new position in shares of Amgen during the first quarter worth about $1,331,000. Fisher Asset Management LLC increased its holdings in shares of Amgen by 285.4% in the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock worth $102,820,000 after buying an additional 292,137 shares during the last quarter. Aire Advisors LLC raised its position in shares of Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock valued at $3,461,000 after buying an additional 2,762 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Amgen during the 4th quarter worth $3,531,000. Finally, Mariner LLC grew its position in Amgen by 2.2% in the fourth quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock worth $238,316,000 after acquiring an additional 19,250 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred 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 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 can be accessed through this link. Company insiders own 0.76% of the company's stock.

Amgen Stock Down 0.7%

Shares of AMGN traded down $1.98 during trading hours on Friday, hitting $277.13. The company had a trading volume of 2,894,198 shares, compared to its average volume of 2,833,059. The stock has a market capitalization of $149.02 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 2.52 and a beta of 0.51. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm has a fifty day moving average price of $281.02 and a 200-day moving average price of $286.02.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the company posted $3.96 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMGN shares. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday. Royal Bank Of Canada lowered their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Bank of America increased their target price on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $307.82.

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.