Amgen Inc. (NASDAQ:AMGN) Shares Bought by United Community Bank

United Community Bank lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 75,088.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,767 shares of the medical research company's stock after acquiring an additional 6,758 shares during the quarter. Amgen accounts for 0.8% of United Community Bank's portfolio, making the stock its 27th largest holding. United Community Bank's holdings in Amgen were worth $2,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of AMGN. Brighton Jones LLC boosted its position in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after buying an additional 5,226 shares during the period. Proficio Capital Partners LLC boosted its position in shares of Amgen by 35.0% in the fourth quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock worth $471,000 after buying an additional 468 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of Amgen in the fourth quarter worth $1,948,000. Diversified Enterprises LLC boosted its position in shares of Amgen by 12.4% in the fourth quarter. Diversified Enterprises LLC now owns 1,007 shares of the medical research company's stock worth $263,000 after buying an additional 111 shares during the period. Finally, Centurion Wealth Management LLC boosted its position in shares of Amgen by 6.5% in the fourth quarter. Centurion Wealth Management LLC now owns 2,663 shares of the medical research company's stock worth $694,000 after buying an additional 163 shares during the period. 76.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on AMGN. Piper Sandler reaffirmed an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Royal Bank Of Canada reduced their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Guggenheim began coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $307.82.

Amgen Trading Down 1.7%

Amgen stock opened at $295.27 on Monday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The business's 50-day simple moving average is $283.56 and its 200-day simple moving average is $288.31. The firm has a market capitalization of $158.77 billion, a PE ratio of 26.94, a PEG ratio of 2.67 and a beta of 0.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.96 earnings per share. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

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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