Consolidated Portfolio Review Corp Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Consolidated Portfolio Review Corp boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 23.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,743 shares of the medical research company's stock after acquiring an additional 1,077 shares during the quarter. Consolidated Portfolio Review Corp's holdings in Amgen were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pinney & Scofield Inc. purchased a new position in Amgen in the 4th quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC purchased a new stake in shares of Amgen in the fourth quarter valued at about $34,000. Atala Financial Inc acquired a new position in shares of Amgen during the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Amgen during the fourth quarter worth about $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

AMGN stock opened at $272.44 on Tuesday. The stock's 50 day moving average price is $281.39 and its 200 day moving average price is $286.10. The firm has a market cap of $146.49 billion, a P/E ratio of 24.86, a PEG ratio of 2.62 and a beta of 0.51. 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 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share 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 analysts' expectations of $8.05 billion. During the same period in the previous year, the firm posted $3.96 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Piper Sandler dropped their target price on Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Johnson Rice set a $294.00 target price on Amgen in a report on Wednesday, March 5th. Finally, Royal Bank Of Canada decreased their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock 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 stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $309.22.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated 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 now directly owns 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by corporate insiders.

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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