Code Waechter LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Code Waechter LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,486 shares of the medical research company's stock, valued at approximately $463,000.

A number of other large investors have also bought and sold shares of AMGN. Capital World Investors grew its holdings in 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 worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. Norges Bank acquired a new position in shares of Amgen during the fourth quarter valued at about $1,541,991,000. GAMMA Investing LLC grew its holdings in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after buying an additional 3,653,205 shares during the last quarter. Capital International Investors grew its holdings in shares of Amgen by 40.1% during 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 buying an additional 3,495,503 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Amgen by 52.7% during the fourth quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company's stock valued at $858,020,000 after buying an additional 1,135,884 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 value 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. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by company insiders.

Amgen Stock Performance

Shares of AMGN stock opened at $296.52 on Thursday. The firm has a market cap of $159.44 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 2.69 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. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm's 50-day simple moving average is $282.95 and its two-hundred day simple moving average is $287.50.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The business 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 company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.96 earnings per share. As a group, equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group reiterated a "neutral" rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Piper Sandler reiterated an "overweight" rating and set a $328.00 price objective on shares of Amgen in a report on Friday, June 27th. William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Royal Bank Of Canada reduced their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Two equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $307.82.

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.

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