Envestnet Asset Management Inc. Buys 152,514 Shares of Amgen Inc. (NASDAQ:AMGN)

Envestnet Asset Management Inc. increased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,419,605 shares of the medical research company's stock after buying an additional 152,514 shares during the period. Envestnet Asset Management Inc. owned 0.26% of Amgen worth $442,278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Traveka Wealth LLC bought a new position in Amgen in the 1st quarter worth approximately $229,000. Jackson Wealth Management LLC boosted its holdings in Amgen by 49.7% in the 1st quarter. Jackson Wealth Management LLC now owns 6,474 shares of the medical research company's stock valued at $2,017,000 after purchasing an additional 2,150 shares during the period. CoreFirst Bank & Trust boosted its holdings in Amgen by 12.5% in the 1st quarter. CoreFirst Bank & Trust now owns 2,523 shares of the medical research company's stock valued at $786,000 after purchasing an additional 280 shares during the period. One Day In July LLC bought a new position in Amgen in the 1st quarter valued at $204,000. Finally, Vickerman Investment Advisors Inc. boosted its holdings in Amgen by 10.7% in the 1st quarter. Vickerman Investment Advisors Inc. now owns 12,687 shares of the medical research company's stock valued at $3,953,000 after purchasing an additional 1,222 shares during the period. 76.50% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Piper Sandler restated an "overweight" rating and set a $328.00 price objective on shares of Amgen in a research report on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $307.82.

Amgen Trading Down 1.7%

Shares of NASDAQ AMGN traded down $5.10 during midday trading on Friday, hitting $295.27. 1,619,752 shares of the company traded hands, compared to its average volume of 2,845,152. Amgen Inc. has a 12-month low of $253.30 and a 12-month 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 stock has a 50-day moving average price of $283.56 and a 200 day moving average price of $287.97. The firm has a market cap of $158.77 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.72 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly 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. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The company had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter in the previous year, the company earned $3.96 earnings per share. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. As a group, analysts expect 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.