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

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC grew 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 valued at $1,205,000 after buying an additional 34 shares in the last quarter. Continuum Advisory LLC grew 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 valued at $1,343,000 after buying an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC grew 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 valued at $759,000 after buying an additional 35 shares in the last quarter. Trillium Asset Management LLC grew 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 valued at $237,000 after buying an additional 37 shares in the last quarter. Finally, Affinity Capital Advisors LLC grew 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 valued at $246,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

Amgen stock traded down $5.10 during mid-day trading on Friday, hitting $295.27. 1,619,752 shares of the company were exchanged, compared to its average volume of 2,847,778. The company has a market capitalization of $158.77 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.67 and a beta of 0.49. The business has a fifty day moving average of $283.56 and a 200 day moving average of $288.13. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. 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 announced 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 business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $3.96 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The stock was 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 owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on AMGN. 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 research note on Friday, May 2nd. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Piper Sandler restated an "overweight" rating and issued a $328.00 target price on shares of Amgen in a report on Friday, June 27th. Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Finally, Guggenheim initiated coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $307.82.

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.