QRG Capital Management Inc. Has $30.13 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

QRG Capital Management Inc. boosted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,699 shares of the medical research company's stock after buying an additional 4,945 shares during the period. QRG Capital Management Inc.'s holdings in Amgen were worth $30,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tallon Kerry Patrick acquired a new stake in Amgen in the 4th quarter valued at approximately $270,000. Brighton Jones LLC raised its stake in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Congress Asset Management Co. lifted its holdings in Amgen by 16.6% in the fourth quarter. Congress Asset Management Co. now owns 62,436 shares of the medical research company's stock worth $16,273,000 after purchasing an additional 8,895 shares during the period. bLong Financial LLC bought a new position in Amgen in the 4th quarter valued at about $769,000. Finally, Palumbo Wealth Management LLC raised its position in shares of Amgen by 3.2% during the 4th quarter. Palumbo Wealth Management LLC now owns 1,379 shares of the medical research company's stock worth $359,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,500 shares of the 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 transaction, the senior vice president now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of research analyst reports. Piper Sandler lowered their price objective on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target for the company. Bank of America upped their price target on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Finally, Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $309.22.

Amgen Trading Up 0.1%

Amgen stock traded up $0.34 during mid-day trading on Monday, hitting $295.56. The stock had a trading volume of 2,047,200 shares, compared to its average volume of 2,817,566. The stock has a 50-day simple moving average of $281.33 and a two-hundred day simple moving average of $285.66. 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 stock has a market capitalization of $158.92 billion, a PE ratio of 39.15, a P/E/G 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.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data 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 business 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%. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.96 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

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.