Center For Asset Management LLC Purchases New Stake in Amgen Inc. (NASDAQ:AMGN)

Center For Asset Management LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,616 shares of the medical research company's stock, valued at approximately $504,000.

Several other large investors have also recently bought and sold shares of AMGN. Vanguard Group Inc. raised its stake in shares of Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock worth $13,741,409,000 after purchasing an additional 339,522 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after acquiring an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Amgen by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock valued at $3,245,881,000 after acquiring an additional 352,143 shares during the last quarter. Capital International Investors increased its position in Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after buying an additional 3,495,503 shares during the period. Finally, Capital World Investors increased its position in Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after buying an additional 6,029,058 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was 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 directly owns 8,162 shares of the company's stock, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on AMGN shares. UBS Group reaffirmed a "neutral" rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Mizuho boosted 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. Bank of America boosted their price target on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $309.22.

Amgen Stock Down 0.1%

NASDAQ:AMGN opened at $289.33 on Friday. Amgen Inc. has a 1 year low of $253.30 and a 1 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 stock has a market cap of $155.58 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.62 and a beta of 0.51. The stock has a 50-day moving average price of $281.82 and a two-hundred day moving average price of $285.96.

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 (EPS) for the quarter, beating 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 firm had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same period in the previous year, the firm earned $3.96 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. As a group, equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current 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.

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