Atria Investments Inc Purchases 5,308 Shares of Amgen Inc. (NASDAQ:AMGN)

Atria Investments Inc lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,920 shares of the medical research company's stock after acquiring an additional 5,308 shares during the quarter. Atria Investments Inc's holdings in Amgen were worth $15,552,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMGN. Geode Capital Management LLC increased its position in Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock worth $3,245,881,000 after buying an additional 352,143 shares during the last quarter. Capital International Investors grew its position in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the last quarter. Capital World Investors grew its position in shares of Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares during the last quarter. Northern Trust Corp grew its position in shares of Amgen by 15.8% in the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after purchasing an additional 875,254 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Amgen in the fourth quarter valued at about $1,541,991,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of several research analyst reports. Royal Bank Of Canada lowered their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. 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. UBS Group lifted their target price on Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Mizuho lifted their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $307.27.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president owned 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 filing with the SEC, which is available at this link. Corporate insiders own 0.76% of the company's stock.

Amgen Stock Performance

AMGN traded down $1.97 on Friday, reaching $306.58. The company had a trading volume of 1,451,093 shares, compared to its average volume of 1,935,961. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $340.89. The stock has a market cap of $164.85 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.67 and a beta of 0.49. The company's fifty day moving average is $289.39 and its 200 day moving average is $290.70. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17.

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 (EPS) 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 firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the prior year, the business posted $3.96 EPS. The business's revenue was up 9.4% compared to the same quarter last year. As a group, analysts predict that Amgen Inc. will post 20.62 earnings per share 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.