Amgen Inc. (NASDAQ:AMGN) Shares Bought by Hoey Investments Inc.

Hoey Investments Inc. lifted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 31.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,047 shares of the medical research company's stock after purchasing an additional 1,698 shares during the quarter. Amgen accounts for approximately 0.4% of Hoey Investments Inc.'s investment portfolio, making the stock its 19th largest position. Hoey Investments Inc.'s holdings in Amgen were worth $2,195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Centricity Wealth Management LLC bought a new stake in Amgen in the fourth quarter worth $25,000. Pinney & Scofield Inc. bought a new stake in Amgen in the fourth quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position in Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new stake in Amgen in the fourth quarter worth $34,000. Finally, Atala Financial Inc bought a new stake in Amgen in the fourth quarter worth $34,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 0.7%

Shares of AMGN stock traded down $2.07 during trading hours on Friday, reaching $295.22. 2,191,182 shares of the company's stock were exchanged, compared to its average volume of 2,816,232. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a market cap of $158.74 billion, a PE ratio of 39.10, a PEG ratio of 2.63 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock's fifty day moving average price is $281.33 and its two-hundred day moving average price is $285.58.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results 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 return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the firm earned $3.96 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. Research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling

In related 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 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 $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 SEC, which is available through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target for the company. Piper Sandler lowered their price target on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald started coverage on Amgen in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 target price for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.