Amgen Inc. (NASDAQ:AMGN) Stock Holdings Boosted by Consolidated Planning Corp

Consolidated Planning Corp lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 207.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,377 shares of the medical research company's stock after acquiring an additional 3,628 shares during the period. Consolidated Planning Corp's holdings in Amgen were worth $1,675,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AMGN. Tallon Kerry Patrick bought a new position in shares of Amgen during the fourth quarter worth about $270,000. Brighton Jones LLC grew its position in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Amgen during the fourth quarter worth about $25,000. Redmond Asset Management LLC bought a new position in shares of Amgen during the fourth quarter worth about $581,000. Finally, Fisher Funds Management LTD acquired a new stake in Amgen in the fourth quarter worth about $8,645,000. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Royal Bank Of Canada reduced 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. Mizuho upped their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. Finally, Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $309.22.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was 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 in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is owned by corporate insiders.

Amgen Price Performance

NASDAQ AMGN opened at $289.33 on Monday. The stock's 50-day moving average price is $281.82 and its two-hundred day moving average price is $286.10. 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 company has a market cap of $155.58 billion, a PE ratio of 26.40, a PEG ratio of 2.62 and a beta of 0.51. Amgen Inc. has a 1 year low of $253.30 and a 1 year 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for 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 quarter in the previous year, the company earned $3.96 EPS. On average, analysts predict that Amgen Inc. will post 20.62 EPS 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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