HM Payson & Co. Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

HM Payson & Co. lifted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 218,010 shares of the medical research company's stock after purchasing an additional 11,611 shares during the quarter. Amgen accounts for approximately 1.2% of HM Payson & Co.'s investment portfolio, making the stock its 27th largest position. HM Payson & Co.'s holdings in Amgen were worth $67,921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. World Investment Advisors grew its holdings in shares of Amgen by 1.2% in the first quarter. World Investment Advisors now owns 16,959 shares of the medical research company's stock valued at $5,284,000 after purchasing an additional 193 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Amgen in the first quarter valued at $219,000. Capital Investment Advisory Services LLC grew its holdings in shares of Amgen by 4.9% in the first quarter. Capital Investment Advisory Services LLC now owns 10,515 shares of the medical research company's stock valued at $3,276,000 after purchasing an additional 489 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of Amgen by 3.6% in the first quarter. Impax Asset Management Group plc now owns 7,573 shares of the medical research company's stock valued at $2,359,000 after purchasing an additional 260 shares in the last quarter. Finally, Argyle Capital Management LLC grew its holdings in shares of Amgen by 1.0% in the first quarter. Argyle Capital Management LLC now owns 19,571 shares of the medical research company's stock valued at $6,097,000 after purchasing an additional 185 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by company insiders.

Amgen Stock Performance

Shares of Amgen stock opened at $298.25 on Friday. The firm has a market cap of $160.37 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.70 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock's fifty day moving average price is $282.47 and its 200-day moving average price is $286.79.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for 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 business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.96 earnings per share. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler reissued an "overweight" rating and issued a $328.00 target price on shares of Amgen in a report on Friday, June 27th. Mizuho raised 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. Erste Group Bank downgraded 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 report on Friday, May 2nd. Finally, UBS Group restated a "neutral" rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $307.82.

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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