Good Steward Wealth Advisors LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Good Steward Wealth Advisors LLC bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,271 shares of the medical research company's stock, valued at approximately $708,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Ascent Wealth Partners LLC raised its position in Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock valued at $2,352,000 after acquiring an additional 64 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Amgen by 285.4% during the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock worth $102,820,000 after purchasing an additional 292,137 shares during the last quarter. Aire Advisors LLC raised its holdings in shares of Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock valued at $3,461,000 after purchasing an additional 2,762 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new position in shares of Amgen during the 4th quarter valued at $3,531,000. Finally, Mariner LLC lifted its stake in shares of Amgen by 2.2% in the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock valued at $238,316,000 after purchasing an additional 19,250 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Down 0.1%

NASDAQ AMGN traded down $0.30 during trading on Friday, hitting $289.33. The stock had a trading volume of 6,801,322 shares, compared to its average volume of 2,835,249. The company's 50-day moving average price is $281.82 and its two-hundred day moving average price is $285.96. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The company has a market capitalization of $155.57 billion, a PE ratio of 26.40, a P/E/G ratio of 2.62 and a beta of 0.51. 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 the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for 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 company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.96 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm'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 in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMGN. UBS Group restated a "neutral" rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Johnson Rice set a $294.00 price target on Amgen in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald assumed coverage on Amgen in a report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of "Hold" and a consensus target price of $309.22.

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.