Hohimer Wealth Management LLC Increases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Hohimer Wealth Management LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,701 shares of the medical research company's stock after buying an additional 1,718 shares during the quarter. Hohimer Wealth Management LLC's holdings in Amgen were worth $4,580,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after buying an additional 5,226 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Amgen by 35.0% in the 4th quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock worth $471,000 after purchasing an additional 468 shares during the period. Madison Investment Advisors LLC purchased a new position in Amgen during the fourth quarter worth approximately $1,948,000. Diversified Enterprises LLC grew its holdings in Amgen by 12.4% in the fourth quarter. Diversified Enterprises LLC now owns 1,007 shares of the medical research company's stock valued at $263,000 after purchasing an additional 111 shares during the period. Finally, Centurion Wealth Management LLC increased its position in shares of Amgen by 6.5% in the fourth quarter. Centurion Wealth Management LLC now owns 2,663 shares of the medical research company's stock valued at $694,000 after buying an additional 163 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 0.6%

AMGN stock traded up $1.76 during trading on Monday, reaching $297.03. 1,202,183 shares of the stock were exchanged, compared to its average volume of 3,022,026. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The firm has a market capitalization of $159.72 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 2.67 and a beta of 0.49. The business has a 50 day moving average price of $283.56 and a 200-day moving average price of $288.31. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm 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 company earned $3.96 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective on the stock. Piper Sandler reiterated an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. UBS Group restated a "neutral" rating and set a $315.00 price target (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $307.82.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's 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 directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by company insiders.

About Amgen

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.