Golden State Wealth Management LLC Boosts Position in Amgen Inc. (NASDAQ:AMGN)

Golden State Wealth Management LLC grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 165.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,871 shares of the medical research company's stock after purchasing an additional 3,039 shares during the quarter. Golden State Wealth Management LLC's holdings in Amgen were worth $1,518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors increased its holdings in shares of Amgen by 1,292.0% during 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 in the last quarter. Norges Bank purchased a new stake in Amgen during the 4th quarter worth approximately $1,541,991,000. GAMMA Investing LLC increased its stake in Amgen by 43,573.5% during the 1st 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 in the last quarter. Capital International Investors raised its holdings in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after buying an additional 3,495,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after buying an additional 2,672,975 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 $1.98 during trading hours on Friday, hitting $277.13. 2,894,198 shares of the company's stock were exchanged, compared to its average volume of 2,833,059. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm has a market cap of $149.02 billion, a P/E ratio of 25.29, a P/E/G ratio of 2.52 and a beta of 0.51. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The firm has a 50 day moving average of $281.02 and a two-hundred day moving average of $286.01.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.96 earnings per share. Sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AMGN shares. Royal Bank Of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target on the stock. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Bank of America lifted their target price on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Finally, Johnson Rice set a $294.00 price target on shares of Amgen in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $309.22.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were 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 now owns 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.