Global Wealth Management Investment Advisory Inc. Increases Stake in Amgen Inc. (NASDAQ:AMGN)

Global Wealth Management Investment Advisory Inc. boosted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 23.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,448 shares of the medical research company's stock after purchasing an additional 1,581 shares during the quarter. Global Wealth Management Investment Advisory Inc.'s holdings in Amgen were worth $2,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Beck Mack & Oliver LLC increased its holdings in Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after buying an additional 34 shares during the period. Continuum Advisory LLC raised its position in Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock valued at $1,343,000 after purchasing an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC grew its holdings in Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after acquiring an additional 35 shares during the last quarter. Trillium Asset Management LLC increased its holdings in Amgen by 4.2% in the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock valued at $237,000 after purchasing an additional 37 shares during the period. Finally, Affinity Capital Advisors LLC raised its position in shares of Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after acquiring an additional 37 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMGN shares. Guggenheim began coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target on the stock. Piper Sandler reiterated an "overweight" rating and issued a $328.00 target price on shares of Amgen in a report on Friday, June 27th. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Royal Bank Of Canada reduced their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. 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 equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen has an average rating of "Hold" and an average price target of $307.82.

Amgen Trading Up 0.5%

Shares of AMGN opened at $298.25 on Friday. The stock has a market cap of $160.37 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm's fifty day moving average is $282.12 and its two-hundred day moving average is $286.57. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $3.96 earnings per share. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred 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 owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Amgen 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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