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Arkadios Wealth Advisors Buys 8,311 Shares of Amgen Inc. (NASDAQ:AMGN)

Amgen logo with Medical background

Key Points

  • Arkadios Wealth Advisors significantly increased its stake in Amgen Inc. by 217.4% in the first quarter, owning 12,134 shares worth approximately $3.78 million as of the latest report.
  • Several hedge funds, including First Pacific Financial, also boosted their positions in Amgen, highlighting strong institutional interest with 76.50% of the stock owned by institutional investors.
  • Amgen recently reported $4.90 earnings per share for the latest quarter, surpassing analysts' expectations, and its revenue increased by 9.4% year over year.
  • Five stocks we like better than Amgen.

Arkadios Wealth Advisors raised its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 217.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,134 shares of the medical research company's stock after buying an additional 8,311 shares during the period. Arkadios Wealth Advisors' holdings in Amgen were worth $3,780,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Tredje AP fonden increased its stake in shares of Amgen by 27.1% in the first quarter. Tredje AP fonden now owns 127,707 shares of the medical research company's stock worth $39,787,000 after purchasing an additional 27,214 shares during the period. Marshall Investment Management LLC increased its stake in shares of Amgen by 4.6% in the first quarter. Marshall Investment Management LLC now owns 6,210 shares of the medical research company's stock worth $1,935,000 after purchasing an additional 274 shares during the period. XTX Topco Ltd increased its stake in shares of Amgen by 118.6% in the first quarter. XTX Topco Ltd now owns 5,127 shares of the medical research company's stock worth $1,597,000 after purchasing an additional 2,782 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of Amgen by 71.9% in the first quarter. Harvest Fund Management Co. Ltd now owns 54,416 shares of the medical research company's stock worth $16,949,000 after purchasing an additional 22,759 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in shares of Amgen in the first quarter worth about $4,807,000. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Finally, Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amgen presently has an average rating of "Hold" and an average price target of $307.27.

View Our Latest Stock Report on Amgen

Amgen Price Performance

NASDAQ AMGN traded up $1.78 during trading on Friday, reaching $296.88. 2,410,860 shares of the company traded hands, compared to its average volume of 1,708,073. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock's 50 day moving average price is $292.04 and its two-hundred day moving average price is $291.87. The company has a market cap of $159.64 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 2.55 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The business 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%. Amgen's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.96 EPS. As a group, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen's payout ratio is currently 86.86%.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction that occurred on 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by insiders.

Amgen Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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