Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Joseph Group Capital Management

Joseph Group Capital Management lifted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,046 shares of the medical research company's stock after purchasing an additional 1,112 shares during the quarter. Amgen accounts for about 1.3% of Joseph Group Capital Management's holdings, making the stock its 27th largest holding. Joseph Group Capital Management's holdings in Amgen were worth $3,441,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pinney & Scofield Inc. bought a new position in shares of Amgen during the fourth quarter valued at approximately $26,000. First Pacific Financial boosted its stake 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 valued at $28,000 after purchasing an additional 67 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE boosted 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 valued at $33,000 after purchasing an additional 51 shares in the last quarter. Atala Financial Inc bought a new position in shares of Amgen in the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Amgen in the 4th quarter worth approximately $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by insiders.

Amgen Trading Down 1.7%

Shares of Amgen stock traded down $5.10 during trading on Friday, hitting $295.27. The stock had a trading volume of 1,619,752 shares, compared to its average volume of 2,845,152. The firm's fifty day simple moving average is $283.28 and its 200-day simple moving average is $287.76. The stock has a market cap of $158.77 billion, a PE ratio of 26.94, a PEG ratio of 2.72 and a beta of 0.49. 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.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.96 earnings per share. As a group, sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Royal Bank Of Canada decreased their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Mizuho raised their target price 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, Piper Sandler reissued an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $307.82.

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.