Segment Wealth Management LLC Raises Stock Position in Amgen Inc. (NASDAQ:AMGN)

Segment Wealth Management LLC increased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 99.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,761 shares of the medical research company's stock after purchasing an additional 876 shares during the quarter. Segment Wealth Management LLC's holdings in Amgen were worth $549,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Vanguard Group Inc. boosted its stake in shares of Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock worth $13,741,409,000 after acquiring an additional 339,522 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 last quarter. Geode Capital Management LLC boosted its stake 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 worth $3,245,881,000 after acquiring an additional 352,143 shares during the last quarter. Capital International Investors boosted its stake in shares of Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after acquiring an additional 3,495,503 shares during the last quarter. Finally, Capital World Investors boosted its stake in shares of Amgen by 1,292.0% during 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 acquiring an additional 6,029,058 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $289.33 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a market cap of $155.58 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.62 and a beta of 0.51. The firm's fifty day moving average is $281.82 and its two-hundred day moving average is $285.96. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data 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 net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same period last year, the company posted $3.96 EPS. The business's revenue was up 9.4% on a year-over-year basis. As a group, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now directly owns 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several analyst reports. Mizuho lifted their price target 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. Bank of America lifted 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. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Finally, Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Amgen has a consensus rating of "Hold" and a consensus target price of $309.22.

Amgen 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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