Bleakley Financial Group LLC Has $7.08 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Bleakley Financial Group LLC raised its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,725 shares of the medical research company's stock after buying an additional 1,570 shares during the quarter. Bleakley Financial Group LLC's holdings in Amgen were worth $7,080,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Beck Mack & Oliver LLC grew its position in shares of Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after purchasing an additional 34 shares during the period. Continuum Advisory LLC raised its stake in shares of Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after purchasing an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC raised its stake in shares of Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after purchasing an additional 35 shares in the last quarter. Trillium Asset Management LLC raised its stake in shares of Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after purchasing an additional 37 shares in the last quarter. Finally, Affinity Capital Advisors LLC increased its holdings in shares of Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after acquiring an additional 37 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMGN shares. Guggenheim assumed coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. UBS Group restated a "neutral" rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada dropped their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $307.82.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by insiders.

Amgen Stock Down 1.7%

NASDAQ AMGN opened at $295.27 on Monday. 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 company has a market capitalization of $158.77 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.67 and a beta of 0.49. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The stock has a 50 day moving average price of $283.56 and a 200-day moving average price of $288.31.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly 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 return on equity of 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period last year, the company earned $3.96 earnings per share. Amgen's revenue was up 9.4% on a year-over-year basis. As a group, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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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