Foundations Investment Advisors LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,759 shares of the medical research company's stock after purchasing an additional 2,143 shares during the period. Foundations Investment Advisors LLC's holdings in Amgen were worth $7,714,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Brighton Jones LLC raised its position in 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 period. Arrowstreet Capital Limited Partnership bought a new stake in Amgen in the fourth quarter worth about $8,798,000. CIBC Private Wealth Group LLC raised its position in Amgen by 3.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 328,563 shares of the medical research company's stock worth $86,810,000 after acquiring an additional 10,946 shares during the period. Skba Capital Management LLC raised its position in Amgen by 17.5% in the fourth quarter. Skba Capital Management LLC now owns 24,160 shares of the medical research company's stock worth $6,297,000 after acquiring an additional 3,600 shares during the period. Finally, Wellington Management Group LLP raised its position in Amgen by 22.7% in the fourth quarter. Wellington Management Group LLP now owns 293,675 shares of the medical research company's stock worth $76,543,000 after acquiring an additional 54,321 shares during the period. 76.50% of the stock is owned by institutional investors.
Insider Activity at Amgen
In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have weighed in on AMGN shares. Royal Bank Of Canada cut their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. UBS Group increased their target price on shares of Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Mizuho increased their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Finally, Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $307.27.
Check Out Our Latest Stock Report on AMGN
Amgen Stock Up 0.8%
Shares of Amgen stock traded up $2.22 during trading on Friday, hitting $297.32. 1,193,753 shares of the stock traded hands, compared to its average volume of 2,901,101. The firm has a market cap of $159.87 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The stock's fifty day simple moving average is $291.53 and its 200 day simple moving average is $291.66.
Amgen (NASDAQ:AMGN - Get Free Report) last issued 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 business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the firm earned $3.96 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.
Amgen Company Profile
(
Free Report)
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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