Amgen Inc. (NASDAQ:AMGN) Position Lifted by Integrated Investment Consultants LLC

Key Points

• Integrated Investment Consultants LLC increased its stake in Amgen Inc. by 71.5%, now holding 4,697 shares valued at approximately $1.46 million.
• Amgen's stock has a current market capitalization of $164.85 billion and has experienced a 0.6% decrease recently, trading at $306.58.
• Analysts maintain a consensus target price of $307.27 for Amgen, with 12 hold ratings and 8 buy ratings from various research firms.

Integrated Investment Consultants LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 71.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,697 shares of the medical research company's stock after acquiring an additional 1,958 shares during the quarter. Integrated Investment Consultants LLC's holdings in Amgen were worth $1,463,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Capital World Investors raised its holdings in Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. GAMMA Investing LLC increased its stake in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after buying an additional 3,653,205 shares in the last quarter. Capital International Investors raised its holdings in shares of Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Amgen by 52.7% in the fourth quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company's stock valued at $858,020,000 after acquiring an additional 1,135,884 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Amgen by 15.8% in the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after purchasing an additional 875,254 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.69% of the company's stock.

Amgen Stock Performance

AMGN traded down $5.29 during trading on Monday, hitting $301.29. 1,948,000 shares of the stock were exchanged, compared to its average volume of 1,863,810. The firm has a market capitalization of $162.01 billion, a P/E ratio of 27.49, a PEG ratio of 2.65 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $340.89. The stock has a fifty day moving average price of $289.39 and a two-hundred day moving average price of $291.07. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70.

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. The firm had revenue of $8.15 billion during 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%. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.96 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on AMGN. Mizuho increased their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. UBS Group raised their price objective on shares of Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Citigroup raised their price target on shares of Amgen from $300.00 to $305.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Finally, Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $307.27.

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.