Amgen Inc. (NASDAQ:AMGN) Stock Position Raised by OneAscent Financial Services LLC

OneAscent Financial Services LLC lifted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 142.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,894 shares of the medical research company's stock after acquiring an additional 4,045 shares during the quarter. OneAscent Financial Services LLC's holdings in Amgen were worth $2,142,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. KPP Advisory Services LLC lifted its position in shares of Amgen by 87.1% in 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 in the last quarter. Advisor Resource Council acquired a new stake in shares of Amgen during the 1st quarter valued at $1,331,000. DLK Investment Management LLC boosted its stake 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 during the period. Aire Advisors LLC boosted its stake in shares of Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock valued at $3,461,000 after buying an additional 2,762 shares during the period. Finally, Mariner LLC boosted its stake in shares of Amgen by 2.2% during the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock valued at $238,316,000 after buying an additional 19,250 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMGN. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Royal Bank Of Canada cut their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Piper Sandler restated an "overweight" rating and set a $328.00 price target on shares of Amgen in a report on Friday, June 27th. Finally, Guggenheim started coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. Two 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $307.82.

Amgen Trading Down 1.2%

Shares of AMGN stock opened at $294.76 on Friday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market capitalization of $158.50 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.66 and a beta of 0.49. The firm has a 50-day moving average price of $285.90 and a 200 day moving average price of $289.35. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the previous year, the firm posted $3.96 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is currently owned by corporate insiders.

Amgen 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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