CapWealth Advisors LLC Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

CapWealth Advisors LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 17.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,119 shares of the medical research company's stock after acquiring an additional 5,282 shares during the quarter. CapWealth Advisors LLC's holdings in Amgen were worth $10,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of AMGN. Liberty One Investment Management LLC increased its position in shares of Amgen by 8.5% during the first quarter. Liberty One Investment Management LLC now owns 16,161 shares of the medical research company's stock valued at $5,035,000 after buying an additional 1,266 shares during the period. Stratos Investment Management LLC boosted its stake in Amgen by 24.8% in the first quarter. Stratos Investment Management LLC now owns 21,382 shares of the medical research company's stock worth $6,662,000 after buying an additional 4,252 shares in the last quarter. May Hill Capital LLC boosted its stake in Amgen by 4.9% in the first quarter. May Hill Capital LLC now owns 1,317 shares of the medical research company's stock worth $410,000 after buying an additional 62 shares in the last quarter. Horst & Graben Wealth Management LLC bought a new position in shares of Amgen in the first quarter worth approximately $219,000. Finally, Beverly Hills Private Wealth LLC grew its holdings in shares of Amgen by 2.3% in the first quarter. Beverly Hills Private Wealth LLC now owns 1,932 shares of the medical research company's stock worth $602,000 after purchasing an additional 44 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AMGN shares. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $307.82.

Amgen Stock Down 1.7%

NASDAQ AMGN traded down $5.10 during trading on Friday, reaching $295.27. 1,619,752 shares of the company's stock were exchanged, compared to its average volume of 2,845,152. The stock has a market cap of $158.77 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 2.72 and a beta of 0.49. 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 50 day moving average price of $283.56 and a two-hundred day moving average price of $287.97. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.96 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Company 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.