Amgen Inc. (NASDAQ:AMGN) Shares Bought by Marco Investment Management LLC

Key Points

• Marco Investment Management LLC increased its stake in Amgen Inc. by 6.3%, acquiring an additional 2,501 shares, bringing its total holdings to 41,929 shares valued at approximately $13.06 million.
• Analysts have set a consensus target price of $307.27 for Amgen's stock, with ratings ranging from sell to strong buy.
• Amgen reported quarterly earnings of $4.90 per share, exceeding expectations and reflecting a 9.4% increase in revenue year-over-year.

Marco Investment Management LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,929 shares of the medical research company's stock after acquiring an additional 2,501 shares during the quarter. Amgen accounts for about 1.2% of Marco Investment Management LLC's portfolio, making the stock its 28th largest position. Marco Investment Management LLC's holdings in Amgen were worth $13,063,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC boosted its stake in shares of Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after buying an additional 34 shares during the period. Continuum Advisory LLC boosted its stake in shares of Amgen by 0.7% in the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock valued at $1,343,000 after buying an additional 35 shares during the period. Octavia Wealth Advisors LLC boosted its stake in shares of Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock valued at $759,000 after buying an additional 35 shares during the period. Affinity Capital Advisors LLC boosted its stake in shares of Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after buying an additional 37 shares during the period. Finally, Accredited Investors Inc. boosted its stake in shares of Amgen by 1.7% in the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock valued at $674,000 after buying an additional 37 shares during the period. 76.50% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the firm'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 sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.76% of the company's stock.

Amgen Stock Up 0.8%

AMGN traded up $2.34 on Friday, reaching $297.44. The company's stock had a trading volume of 1,236,450 shares, compared to its average volume of 2,901,408. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The business's 50 day moving average is $291.53 and its 200 day moving average is $291.66. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17. The stock has a market cap of $159.93 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the business posted $3.96 EPS. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AMGN shares. Mizuho boosted their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. UBS Group boosted their target price on Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. 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 given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $307.27.

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.