Amgen Inc. (NASDAQ:AMGN) Shares Bought by Precedent Wealth Partners LLC

Precedent Wealth Partners LLC lifted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,259 shares of the medical research company's stock after purchasing an additional 852 shares during the period. Precedent Wealth Partners LLC's holdings in Amgen were worth $1,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AMGN. Ascent Wealth Partners LLC increased its stake in shares of Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock worth $2,352,000 after purchasing an additional 64 shares in the last quarter. ICICI Prudential Asset Management Co Ltd increased its stake in Amgen by 242.2% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock worth $6,255,000 after buying an additional 16,985 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Amgen by 285.4% during the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock valued at $102,820,000 after acquiring an additional 292,137 shares during the last quarter. Aire Advisors LLC lifted its position in shares of Amgen by 26.3% in the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock valued at $3,461,000 after acquiring an additional 2,762 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of Amgen in the fourth quarter worth approximately $3,531,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on AMGN shares. Cantor Fitzgerald began coverage on Amgen in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price objective for the company. Bank of America raised their price target 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. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Mizuho raised their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada dropped their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of "Hold" and an average target price of $309.22.

Amgen Trading Up 0.1%

Amgen stock traded up $0.34 during midday trading on Monday, reaching $295.56. 2,047,200 shares of the stock traded hands, compared to its average volume of 2,817,566. The firm has a market cap of $158.92 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a 50-day simple moving average of $281.33 and a two-hundred day simple moving average of $285.66.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.96 EPS. Research analysts expect 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 business'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 transaction of $434,520.00. Following the completion of the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.76% of the stock is owned by company insiders.

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.