CWA Asset Management Group LLC Has $7.16 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

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

Several other institutional investors have also added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new position in Amgen in the fourth quarter valued at about $270,000. Brighton Jones LLC lifted its holdings in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Amgen by 0.8% in the 4th quarter. Principal Securities Inc. now owns 13,612 shares of the medical research company's stock valued at $3,548,000 after purchasing an additional 111 shares in the last quarter. Sierra Ocean LLC bought a new stake in shares of Amgen during the 4th quarter valued at approximately $53,000. Finally, Nicholas Hoffman & Company LLC. increased its position in Amgen by 13.6% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 1,173 shares of the medical research company's stock worth $306,000 after purchasing an additional 140 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 1.9%

NASDAQ:AMGN opened at $290.05 on Wednesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. 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's fifty day moving average is $281.62 and its 200-day moving average is $285.78. The firm has a market cap of $155.96 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.67 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating 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%. Amgen's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 earnings per share. Equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AMGN shares. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Bank of America increased 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. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a 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. Finally, Guggenheim began coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $309.22.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction 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 completion of the sale, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.69% of the stock is owned by company insiders.

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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