Asset Management One Co. Ltd. Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Asset Management One Co. Ltd. lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 334,255 shares of the medical research company's stock after buying an additional 17,332 shares during the quarter. Asset Management One Co. Ltd. owned about 0.06% of Amgen worth $104,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new position in Amgen in the fourth quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in Amgen in the 4th quarter valued at $34,000. Atala Financial Inc acquired a new stake in Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in Amgen during the 4th quarter valued at $36,000. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of analyst reports. Guggenheim started coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Mizuho lifted their price target on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 price target on shares of Amgen in a report on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $309.22.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $2.86 during mid-day trading on Wednesday, reaching $280.35. The company had a trading volume of 2,735,779 shares, compared to its average volume of 2,829,018. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. 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's 50-day moving average price is $280.99 and its 200-day moving average price is $286.00. The firm has a market cap of $150.75 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 2.51 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 (EPS) 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 firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period in the previous year, the company posted $3.96 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.76% of the company's stock.

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.