Park Avenue Securities LLC Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Park Avenue Securities LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 12.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,064 shares of the medical research company's stock after purchasing an additional 4,320 shares during the period. Park Avenue Securities LLC's holdings in Amgen were worth $12,170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMGN. Tallon Kerry Patrick acquired a new stake in shares of Amgen during the 4th quarter worth $270,000. Brighton Jones LLC boosted its position in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Silver Oak Securities Incorporated increased its stake in shares of Amgen by 18.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,691 shares of the medical research company's stock valued at $439,000 after purchasing an additional 268 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in Amgen during the 4th quarter worth approximately $9,313,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Amgen during the fourth quarter worth $478,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Up 0.3%

Shares of Amgen stock traded up $0.75 on Monday, hitting $291.08. The company had a trading volume of 488,785 shares, compared to its average volume of 2,804,509. The stock has a market capitalization of $156.52 billion, a price-to-earnings ratio of 38.48, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a 50 day moving average of $281.57 and a 200-day moving average of $285.39.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the company posted $3.96 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were 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 now owns 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AMGN shares. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Mizuho raised their price target on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. UBS Group reiterated a "neutral" rating and set a $315.00 price target (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Royal Bank of Canada decreased their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Piper Sandler lowered their target price on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $309.22.

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.