CWA Asset Management Group LLC Purchases 16,776 Shares of Amgen Inc. (NASDAQ:AMGN)

CWA Asset Management Group LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 270.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,974 shares of the medical research company's stock after acquiring an additional 16,776 shares during the period. CWA Asset Management Group LLC's holdings in Amgen were worth $7,158,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC bought a new position in shares of Amgen in the 4th quarter valued at $25,000. Pinney & Scofield Inc. bought a new position in shares of Amgen in the 4th quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE increased 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 valued at $33,000 after purchasing an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new position in shares of Amgen in the 4th quarter valued at $34,000. Finally, Atala Financial Inc bought a new position in shares of Amgen in the 4th quarter valued at $34,000. Institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president now directly owns 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMGN. UBS Group restated a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Piper Sandler reduced their price objective on Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Johnson Rice set a $294.00 price objective on Amgen in a research report on Wednesday, March 5th. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Finally, Bank of America boosted their price objective on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $309.22.

Amgen Trading Down 0.1%

Shares of NASDAQ:AMGN traded down $0.30 during midday trading on Friday, reaching $289.33. The company's stock had a trading volume of 6,801,322 shares, compared to its average volume of 2,818,791. The firm has a market capitalization 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 company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The firm has a 50 day moving average price of $281.82 and a two-hundred day moving average price of $286.02. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $8.15 billion for 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 firm's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.96 EPS. As a group, analysts forecast 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.