Amgen Inc. (NASDAQ:AMGN) Shares Bought by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 955.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,611 shares of the medical research company's stock after buying an additional 20,469 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Amgen were worth $7,044,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of AMGN. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the fourth quarter valued at approximately $25,000. Pinney & Scofield Inc. acquired 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% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth $34,000. Finally, Atala Financial Inc acquired a new stake in shares of Amgen during the fourth quarter worth $34,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMGN. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Cantor Fitzgerald assumed coverage on shares of Amgen in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price objective for the company. Piper Sandler decreased their target price on shares of 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 shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Johnson Rice set a $294.00 price target on shares of Amgen in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $309.22.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.76% of the company's stock.

Amgen Stock Up 0.1%

NASDAQ:AMGN traded up $0.34 on Monday, reaching $295.56. The stock had a trading volume of 2,047,200 shares, compared to its average volume of 2,817,565. The company has a 50-day moving average of $281.33 and a 200 day moving average of $285.66. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock has a market cap of $158.92 billion, a P/E ratio of 39.15, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the business posted $3.96 earnings per share. Amgen's revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

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.