Twin Capital Management Inc. Has $6.24 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Twin Capital Management Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 41.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,017 shares of the medical research company's stock after buying an additional 5,895 shares during the quarter. Amgen makes up about 0.7% of Twin Capital Management Inc.'s investment portfolio, making the stock its 27th biggest position. Twin Capital Management Inc.'s holdings in Amgen were worth $6,236,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AMGN. Brighton Jones LLC grew its stake in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in Amgen by 35.0% in the fourth quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock valued at $471,000 after acquiring an additional 468 shares during the last quarter. Madison Investment Advisors LLC bought a new position in Amgen in the fourth quarter valued at approximately $1,948,000. Blueshift Asset Management LLC bought a new position in Amgen in the fourth quarter valued at approximately $345,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Amgen by 1.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 21,953 shares of the medical research company's stock valued at $5,722,000 after acquiring an additional 228 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent research reports. Guggenheim assumed coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Mizuho raised their target price on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $307.82.

Amgen Price Performance

AMGN stock opened at $294.76 on Friday. The company has a 50 day simple moving average of $285.90 and a 200 day simple moving average of $289.35. The stock has a market cap of $158.50 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 2.66 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

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

Amgen Company 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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