PFG Advisors Has $5.47 Million Stake in Amgen Inc. (NASDAQ:AMGN)

PFG Advisors lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 37.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,557 shares of the medical research company's stock after buying an additional 4,769 shares during the quarter. PFG Advisors' holdings in Amgen were worth $5,470,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Capital World Investors lifted its holdings in shares of Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after buying an additional 6,029,058 shares in the last quarter. Norges Bank purchased a new stake in shares of Amgen in the fourth quarter worth about $1,541,991,000. GAMMA Investing LLC lifted its holdings in shares of Amgen by 43,573.5% in the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after buying an additional 3,653,205 shares in the last quarter. Capital International Investors lifted its holdings in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after buying an additional 3,495,503 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Amgen by 52.7% during the fourth quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company's stock worth $858,020,000 after purchasing an additional 1,135,884 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the company'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 transaction of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by company insiders.

Amgen Stock Up 0.5%

NASDAQ AMGN opened at $296.26 on Tuesday. The stock's 50 day moving average is $285.90 and its 200 day moving average is $289.56. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a market cap of $159.30 billion, a PE ratio of 27.00, a P/E/G ratio of 2.66 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 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 analysts' expectations of $8.05 billion. During the same period in the previous year, the firm earned $3.96 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMGN shares. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Amgen has an average rating of "Hold" and a consensus target price of $308.32.

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.

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