Axxcess Wealth Management LLC Purchases 1,276 Shares of Amgen Inc. (NASDAQ:AMGN)

Axxcess Wealth Management LLC raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,792 shares of the medical research company's stock after acquiring an additional 1,276 shares during the period. Axxcess Wealth Management LLC's holdings in Amgen were worth $3,674,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of AMGN. Brighton Jones LLC raised its stake in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Amgen by 35.0% during the 4th quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock worth $471,000 after purchasing an additional 468 shares in the last quarter. AlphaQuest LLC raised its stake in Amgen by 3.9% in the 4th quarter. AlphaQuest LLC now owns 1,993 shares of the medical research company's stock valued at $519,000 after acquiring an additional 74 shares during the period. Pzena Investment Management LLC bought a new stake in Amgen in the 4th quarter valued at $209,000. Finally, Summit X LLC bought a new stake in Amgen in the 4th quarter valued at $455,000. Institutional investors own 76.50% of the company's stock.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business'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 transaction of $434,520.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.76% of the company's stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $296.52 on Thursday. The firm has a 50 day moving average of $282.95 and a 200-day moving average of $287.50. The stock has a market capitalization of $159.44 billion, a PE ratio of 27.05, a PEG ratio of 2.69 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly 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. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.96 EPS. On average, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group restated a "neutral" rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Mizuho increased 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. Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $328.00 price objective on shares of Amgen in a report on Friday, June 27th. Finally, Guggenheim initiated coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average price target of $307.82.

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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