Moloney Securities Asset Management LLC Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Moloney Securities Asset Management LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 24.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,281 shares of the medical research company's stock after purchasing an additional 3,354 shares during the period. Amgen comprises about 0.7% of Moloney Securities Asset Management LLC's investment portfolio, making the stock its 26th biggest position. Moloney Securities Asset Management LLC's holdings in Amgen were worth $5,384,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Axxcess Wealth Management LLC increased its stake in Amgen by 12.1% during the first quarter. Axxcess Wealth Management LLC now owns 11,792 shares of the medical research company's stock worth $3,674,000 after acquiring an additional 1,276 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Amgen by 6.3% during the first quarter. Rehmann Capital Advisory Group now owns 9,006 shares of the medical research company's stock valued at $2,806,000 after buying an additional 535 shares during the last quarter. Slagle Financial LLC grew its stake in shares of Amgen by 4.9% during the first quarter. Slagle Financial LLC now owns 7,852 shares of the medical research company's stock valued at $2,446,000 after buying an additional 366 shares during the last quarter. Chemung Canal Trust Co. grew its stake in shares of Amgen by 4.1% during the first quarter. Chemung Canal Trust Co. now owns 6,414 shares of the medical research company's stock valued at $1,998,000 after buying an additional 253 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of Amgen by 0.7% during the first quarter. Linden Thomas Advisory Services LLC now owns 7,115 shares of the medical research company's stock valued at $2,217,000 after buying an additional 52 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of AMGN stock traded down $0.48 on Wednesday, reaching $296.52. 2,097,995 shares of the company were exchanged, compared to its average volume of 2,844,787. The company has a market cap of $159.44 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 2.65 and a beta of 0.49. The business has a 50-day moving average price of $282.83 and a 200 day moving average price of $287.44. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. 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 issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The business 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%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.96 earnings per share. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of analyst reports. Royal Bank Of Canada cut their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. UBS Group reiterated a "neutral" rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Guggenheim started coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Finally, Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $307.82.

Amgen 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.