Red Door Wealth Management LLC Acquires 1,908 Shares of Amgen Inc. (NASDAQ:AMGN)

Red Door Wealth Management LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,059 shares of the medical research company's stock after purchasing an additional 1,908 shares during the period. Amgen makes up about 1.4% of Red Door Wealth Management LLC's investment portfolio, making the stock its 20th biggest position. Red Door Wealth Management LLC's holdings in Amgen were worth $9,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of AMGN. Vanguard Group Inc. raised its stake in shares of Amgen by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock worth $13,741,409,000 after buying an additional 339,522 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after acquiring an additional 2,672,975 shares during the period. Geode Capital Management LLC raised its position in shares of Amgen by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock valued at $3,245,881,000 after acquiring an additional 352,143 shares during the last quarter. Capital International Investors lifted its stake in shares of Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Finally, Capital World Investors boosted its position in shares of Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Bank of America boosted their price target on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Finally, UBS Group reissued a "neutral" rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $307.82.

Amgen Stock Performance

Shares of AMGN stock traded up $13.04 on Tuesday, reaching $292.25. The stock had a trading volume of 1,266,325 shares, compared to its average volume of 2,824,958. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm has a market capitalization of $157.14 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 2.51 and a beta of 0.51. The firm's 50-day moving average is $281.13 and its two-hundred day moving average is $286.25. 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 data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the prior year, the company earned $3.96 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

About Amgen

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.