Trifecta Capital Advisors LLC Has $3.92 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Trifecta Capital Advisors LLC raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,596 shares of the medical research company's stock after buying an additional 1,143 shares during the period. Trifecta Capital Advisors LLC's holdings in Amgen were worth $3,924,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Amgen by 17.7% during the 1st quarter. Blue Trust Inc. now owns 2,808 shares of the medical research company's stock valued at $875,000 after purchasing an additional 422 shares in the last quarter. Townsend Asset Management Corp NC ADV grew its holdings in shares of Amgen by 10.3% during the first quarter. Townsend Asset Management Corp NC ADV now owns 4,836 shares of the medical research company's stock worth $1,507,000 after purchasing an additional 451 shares during the last quarter. Autumn Glory Partners LLC bought a new position in shares of Amgen in the first quarter valued at about $201,000. Silver Oak Securities Incorporated raised its holdings in shares of Amgen by 4.1% in the first quarter. Silver Oak Securities Incorporated now owns 1,761 shares of the medical research company's stock valued at $541,000 after buying an additional 70 shares during the last quarter. Finally, ORG Wealth Partners LLC lifted its position in Amgen by 348.7% during the 1st quarter. ORG Wealth Partners LLC now owns 5,506 shares of the medical research company's stock worth $1,696,000 after buying an additional 4,279 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AMGN shares. Bank of America upped their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research report on Wednesday, March 5th. Johnson Rice set a $294.00 price objective on Amgen in a report on Wednesday, March 5th. UBS Group reiterated a "neutral" rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Cantor Fitzgerald started coverage on Amgen in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 target price for the company. Finally, Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus target price of $309.22.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $289.63 on Thursday. 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 50 day moving average price of $281.59 and a 200 day moving average price of $285.81. The stock has a market capitalization of $155.74 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 2.62 and a beta of 0.51. Amgen Inc. has a 52 week low of $253.30 and a 52 week 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 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 company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the firm posted $3.96 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.76% of the company's stock.

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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