Arlington Financial Advisors LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,247 shares of the medical research company's stock after buying an additional 2,416 shares during the quarter. Amgen comprises about 1.4% of Arlington Financial Advisors LLC's portfolio, making the stock its 24th biggest holding. Arlington Financial Advisors LLC's holdings in Amgen were worth $8,177,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Tallon Kerry Patrick acquired a new position in Amgen in the fourth quarter valued at 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. Heck Capital Advisors LLC purchased a new position in shares of Amgen during the fourth quarter worth approximately $36,000. Custom Index Systems LLC purchased a new position in Amgen in the 4th quarter valued at $274,000. Finally, Independence Bank of Kentucky grew its position in Amgen by 109.9% in the 4th quarter. Independence Bank of Kentucky now owns 2,960 shares of the medical research company's stock valued at $771,000 after buying an additional 1,550 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. Guggenheim initiated coverage on Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target for the company. Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Mizuho upped their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Finally, Piper Sandler cut their target price on Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $309.22.
View Our Latest Analysis on Amgen
Amgen Stock Performance
NASDAQ AMGN traded up $1.10 during trading hours on Tuesday, hitting $289.57. The company had a trading volume of 2,299,193 shares, compared to its average volume of 2,804,600. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The business has a fifty day simple moving average of $283.12 and a 200-day simple moving average of $285.27. The firm has a market cap of $155.70 billion, a P/E ratio of 38.35, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.
Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period last year, the company earned $3.96 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.
Amgen Company Profile
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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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