Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC lifted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,832 shares of the medical research company's stock after purchasing an additional 1,763 shares during the quarter. Amgen comprises approximately 1.9% of Granite Bay Wealth Management LLC's portfolio, making the stock its 19th largest holding. Granite Bay Wealth Management LLC's holdings in Amgen were worth $5,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Centricity Wealth Management LLC purchased a new position in shares of Amgen in the 4th quarter worth about $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen in the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC bought a new position in shares of Amgen in the fourth quarter worth approximately $34,000. Finally, Atala Financial Inc bought a new stake in Amgen in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Performance

Shares of AMGN traded up $0.09 during trading hours on Thursday, hitting $287.10. The stock had a trading volume of 2,521,343 shares, compared to its average volume of 2,805,500. The firm has a 50-day moving average price of $282.39 and a 200 day moving average price of $285.31. 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 capitalization of $154.38 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

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 analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the firm posted $3.96 earnings per share. The company's revenue was up 9.4% compared to the same quarter last year. As a group, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Guggenheim initiated coverage on Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Cantor Fitzgerald began coverage on Amgen in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price target for the company. Finally, Johnson Rice set a $294.00 target price on Amgen in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $309.22.

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.