Global Assets Advisory LLC Buys 1,703 Shares of Amgen Inc. (NASDAQ:AMGN)

Global Assets Advisory LLC raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 158.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,775 shares of the medical research company's stock after acquiring an additional 1,703 shares during the quarter. Global Assets Advisory LLC's holdings in Amgen were worth $813,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinney & Scofield Inc. bought a new position in shares of Amgen in the 4th quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in Amgen during the fourth quarter valued at approximately $34,000. Atala Financial Inc bought a new position in Amgen in the fourth quarter worth approximately $34,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after acquiring an additional 125 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of AMGN stock traded down $1.24 during trading hours on Thursday, hitting $279.11. The stock had a trading volume of 2,998,199 shares, compared to its average volume of 2,829,810. 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 stock has a market capitalization of $150.08 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 2.51 and a beta of 0.51. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The stock's 50-day moving average price is $280.99 and its two-hundred day moving average price is $286.00.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.96 EPS. Equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now directly owns 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMGN. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Mizuho upped their price target on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday. UBS Group reaffirmed a "neutral" rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Finally, Piper Sandler reduced their target price on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $309.22.

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.