Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Savvy Advisors Inc.

Key Points

• Savvy Advisors Inc. raised its holdings in Amgen Inc. by 5.7% during Q1, now owning 45,408 shares valued at approximately $14.15 million.
• Amgen's recent quarterly earnings reported $6.02 EPS, exceeding estimates, with a revenue of $9.18 billion, an increase of 9.4% year-over-year.
• Analysts have mixed ratings on Amgen, with a consensus rating of "Hold" and an average price target of $303.76.

Savvy Advisors Inc. increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,408 shares of the medical research company's stock after purchasing an additional 2,468 shares during the period. Amgen makes up 1.4% of Savvy Advisors Inc.'s holdings, making the stock its 13th biggest position. Savvy Advisors Inc.'s holdings in Amgen were worth $14,147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KPP Advisory Services LLC grew its position in shares of Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after acquiring an additional 2,716 shares during the period. Advisor Resource Council purchased a new stake in shares of Amgen in the first quarter valued at approximately $1,331,000. DLK Investment Management LLC lifted its position in shares of Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after buying an additional 1,387 shares in the last quarter. Mariner LLC grew its stake in Amgen by 2.2% in the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock valued at $238,316,000 after acquiring an additional 19,250 shares during the period. Finally, Stratos Investment Management LLC increased its holdings in Amgen by 24.8% in the 1st quarter. Stratos Investment Management LLC now owns 21,382 shares of the medical research company's stock worth $6,662,000 after acquiring an additional 4,252 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMGN shares. Citigroup raised their price target on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research note on Wednesday. Royal Bank Of Canada decreased their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Mizuho boosted their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. UBS Group reduced their price objective on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $303.76.

Amgen Price Performance

Amgen stock opened at $284.70 on Friday. The company's 50 day moving average is $293.20 and its two-hundred day moving average is $292.48. The firm has a market cap of $153.09 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. The company has a quick ratio of 0.88, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.97 EPS. On average, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, August 22nd. Amgen's payout ratio is 77.84%.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction 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 sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is owned by company insiders.

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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