Resonant Capital Advisors LLC Has $4 Million Position in Amgen Inc. (NASDAQ:AMGN)

Resonant Capital Advisors LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,851 shares of the medical research company's stock after buying an additional 858 shares during the period. Resonant Capital Advisors LLC's holdings in Amgen were worth $4,004,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC grew its holdings in shares of Amgen by 23.5% in the 4th 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 period. Jones Financial Companies Lllp grew its holdings in Amgen by 19.2% during the 4th quarter. Jones Financial Companies Lllp now owns 22,300 shares of the medical research company's stock valued at $5,812,000 after buying an additional 3,593 shares during the last quarter. Synergy Investment Management LLC purchased a new position in Amgen during the fourth quarter worth $34,000. Victory Capital Management Inc. increased its position in Amgen by 15.0% during the fourth quarter. Victory Capital Management Inc. now owns 824,291 shares of the medical research company's stock worth $214,843,000 after buying an additional 107,374 shares in the last quarter. Finally, Cypress Capital Group boosted its holdings in shares of Amgen by 0.9% during the fourth quarter. Cypress Capital Group now owns 13,647 shares of the medical research company's stock worth $3,557,000 after purchasing an additional 128 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMGN shares. Mizuho lifted their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Royal Bank Of Canada cut their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Finally, Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has a consensus rating of "Hold" and a consensus target price of $307.82.

Insiders Place Their Bets

In other Amgen 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 transaction, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. 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 company insiders.

Amgen Stock Up 0.5%

NASDAQ:AMGN traded up $1.40 on Friday, hitting $298.25. 1,518,529 shares of the company's stock traded hands, compared to its average volume of 2,842,825. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a 50-day moving average price of $282.12 and a 200-day moving average price of $286.57. The company has a market cap of $160.37 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49.

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, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter in the previous year, the business posted $3.96 EPS. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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.