Moody Lynn & Lieberson LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

Moody Lynn & Lieberson LLC grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 445.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 14,949 shares of the medical research company's stock after acquiring an additional 12,210 shares during the period. Moody Lynn & Lieberson LLC's holdings in Amgen were worth $4,657,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Pinney & Scofield Inc. acquired a new stake in shares of Amgen during the fourth quarter valued at about $26,000. First Pacific Financial raised its stake in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after acquiring an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new stake in shares of Amgen in the fourth quarter worth $34,000. Finally, Atala Financial Inc bought a new position in Amgen during the 4th quarter worth $34,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of analyst reports. Bank of America lifted their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Johnson Rice set a $294.00 price objective on shares of Amgen in a research note on Wednesday, March 5th. Piper Sandler restated an "overweight" rating and issued a $328.00 price target on shares of Amgen in a report on Friday, June 27th. Finally, Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Amgen presently has an average rating of "Hold" and an average target price of $307.82.

Amgen Price Performance

AMGN traded up $6.33 during trading on Wednesday, reaching $296.85. 2,286,935 shares of the company were exchanged, compared to its average volume of 2,835,582. The company's 50-day moving average is $281.37 and its two-hundred day moving average is $286.28. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market cap of $159.62 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 2.53 and a beta of 0.49. 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 released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for 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 business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.96 earnings per share. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.69% 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.