Trek Financial LLC Acquires 1,045 Shares of Amgen Inc. (NASDAQ:AMGN)

Trek Financial LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,184 shares of the medical research company's stock after purchasing an additional 1,045 shares during the period. Trek Financial LLC's holdings in Amgen were worth $1,615,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Beck Mack & Oliver LLC increased its stake in shares of Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock worth $1,205,000 after acquiring an additional 34 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Amgen by 0.7% in the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after acquiring an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC increased its stake in shares of Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after acquiring an additional 35 shares during the last quarter. Trillium Asset Management LLC increased its stake in shares of Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after acquiring an additional 37 shares during the last quarter. Finally, Affinity Capital Advisors LLC increased its stake in shares of Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 transaction, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Mizuho increased their price target on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Guggenheim assumed coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target for the company. Royal Bank Of Canada lowered their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. UBS Group reiterated a "neutral" rating and set a $315.00 price target (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Amgen presently has an average rating of "Hold" and an average target price of $307.82.

Amgen Stock Performance

Shares of AMGN opened at $297.00 on Wednesday. The stock has a 50-day simple moving average of $282.83 and a 200-day simple moving average of $287.44. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market capitalization of $159.70 billion, a PE ratio of 27.10, a PEG ratio of 2.65 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results 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. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the company earned $3.96 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts predict that Amgen Inc. will post 20.62 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.