GAMMA Investing LLC Has $1.14 Billion Stock Position in Amgen Inc. (NASDAQ:AMGN)

GAMMA Investing LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 43,573.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,661,589 shares of the medical research company's stock after purchasing an additional 3,653,205 shares during the period. GAMMA Investing LLC owned 0.68% of Amgen worth $1,140,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Centricity Wealth Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth $25,000. Pinney & Scofield Inc. acquired a new stake in shares of Amgen in the 4th quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE increased its holdings 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 worth $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC acquired a new stake in shares of Amgen in the 4th quarter worth about $34,000. Finally, Atala Financial Inc acquired a new stake in shares of Amgen in the 4th quarter worth about $34,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMGN. Bank of America raised their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Amgen presently has a consensus rating of "Hold" and an average price target of $309.22.

Amgen Stock Performance

AMGN stock traded up $1.81 during trading hours on Tuesday, hitting $290.28. 694,362 shares of the stock were exchanged, compared to its average volume of 2,796,916. 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 firm has a market capitalization of $156.09 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a 50-day simple moving average of $283.12 and a two-hundred day simple moving average of $285.27. 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, topping analysts' consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Amgen's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $3.96 earnings per share. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal 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.