Amgen Inc. (NASDAQ:AMGN) Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS increased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 183,716 shares of the medical research company's stock after buying an additional 3,400 shares during the period. KLP Kapitalforvaltning AS's holdings in Amgen were worth $57,237,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Proficio Capital Partners LLC raised its position in Amgen by 35.0% in the fourth quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock worth $471,000 after acquiring an additional 468 shares during the period. Quantbot Technologies LP raised its position in Amgen by 219.5% in the fourth quarter. Quantbot Technologies LP now owns 1,492 shares of the medical research company's stock worth $389,000 after acquiring an additional 1,025 shares during the period. AXQ Capital LP bought a new stake in Amgen in the fourth quarter worth about $353,000. Finally, Congress Wealth Management LLC DE raised its position in Amgen by 7.5% in the fourth quarter. Congress Wealth Management LLC DE now owns 72,966 shares of the medical research company's stock worth $19,018,000 after acquiring an additional 5,119 shares during the period. Institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred 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 directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.69% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Mizuho upped their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Citigroup upped their target price on shares of Amgen from $300.00 to $305.00 and gave the stock a "neutral" rating in a report on Tuesday. Piper Sandler reaffirmed an "overweight" rating and set a $328.00 target price on shares of Amgen in a report on Friday, June 27th. Finally, Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Amgen currently has an average rating of "Hold" and a consensus target price of $308.77.

Amgen Price Performance

AMGN stock traded up $9.82 during midday trading on Tuesday, reaching $305.69. The stock had a trading volume of 2,520,306 shares, compared to its average volume of 2,842,800. The company's fifty day simple moving average is $285.90 and its 200 day simple moving average is $289.56. 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 company has a market cap of $164.37 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 2.67 and a beta of 0.49. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The business 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 company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.96 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

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.