GF Fund Management CO. LTD. Acquires 3,237 Shares of Amgen Inc. (NASDAQ:AMGN)

GF Fund Management CO. LTD. increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,019 shares of the medical research company's stock after acquiring an additional 3,237 shares during the quarter. Amgen makes up about 0.9% of GF Fund Management CO. LTD.'s holdings, making the stock its 19th largest position. GF Fund Management CO. LTD.'s holdings in Amgen were worth $38,950,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AMGN. Capital World Investors boosted its stake in Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares during the last quarter. Norges Bank bought a new stake in shares of Amgen in the 4th quarter worth approximately $1,541,991,000. GAMMA Investing LLC lifted its stake in Amgen by 43,573.5% in the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares during the last quarter. Capital International Investors grew its holdings in Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Amgen during the fourth quarter valued at $401,913,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction 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 of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $328.00 price objective on shares of Amgen in a report on Friday, June 27th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Finally, Mizuho raised their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $307.82.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $298.25 on Friday. The company's fifty day moving average price is $282.12 and its 200-day moving average price is $286.57. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The firm has a market capitalization of $160.37 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 2.68 and a beta of 0.49. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its 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 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter in the prior year, the firm earned $3.96 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal 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.

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