Moloney Securities Asset Management LLC Buys 3,354 Shares of Amgen Inc. (NASDAQ:AMGN)

Moloney Securities Asset Management LLC lifted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 24.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,281 shares of the medical research company's stock after buying an additional 3,354 shares during the quarter. Amgen comprises approximately 0.7% of Moloney Securities Asset Management LLC's holdings, making the stock its 26th largest position. Moloney Securities Asset Management LLC's holdings in Amgen were worth $5,384,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AMGN. Brighton Jones LLC raised its holdings in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Amgen by 35.0% in the fourth quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock valued at $471,000 after purchasing an additional 468 shares in the last quarter. AlphaQuest LLC lifted its position in Amgen by 3.9% in the fourth quarter. AlphaQuest LLC now owns 1,993 shares of the medical research company's stock worth $519,000 after purchasing an additional 74 shares during the period. Independent Advisor Alliance boosted its stake in Amgen by 8.1% during the fourth quarter. Independent Advisor Alliance now owns 30,276 shares of the medical research company's stock worth $7,891,000 after buying an additional 2,277 shares in the last quarter. Finally, Riverbend Wealth Management LLC bought a new stake in Amgen in the 4th quarter valued at $469,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. UBS Group restated a "neutral" rating and set a $315.00 target price (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and issued a $328.00 price target on shares of Amgen in a research note on Friday, June 27th. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $307.82.

Amgen Trading Down 1.7%

AMGN stock traded down $5.10 during midday trading on Friday, reaching $295.27. The company's stock had a trading volume of 1,619,752 shares, compared to its average volume of 2,842,797. The business's 50-day simple moving average is $283.28 and its 200-day simple moving average is $287.76. 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 Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The stock has a market cap of $158.77 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49.

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

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The shares were 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 of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.76% of the company's stock.

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.