Amgen Inc. (NASDAQ:AMGN) is Valley Wealth Managers Inc.'s 4th Largest Position

Key Points

• Valley Wealth Managers Inc. has increased its holdings in Amgen Inc. by 8.1% this quarter, now owning 87,129 shares valued at approximately $27.15 million, making it Amgen's fourth largest position.
• Major institutional investors have significantly boosted their stakes in Amgen, with Capital International Investors raising their position by 40.1% and Capital World Investors increasing theirs by an extraordinary 1,292.0% in the fourth quarter.
• Amgen's stock currently holds an average analyst rating of "Hold" with a target price of $307.27, while recent earnings reports show a net margin of 17.39% and a year-over-year revenue increase of 9.4%.

Valley Wealth Managers Inc. raised its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,129 shares of the medical research company's stock after acquiring an additional 6,525 shares during the quarter. Amgen accounts for about 2.1% of Valley Wealth Managers Inc.'s portfolio, making the stock its 4th biggest holding. Valley Wealth Managers Inc.'s holdings in Amgen were worth $27,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock worth $3,245,881,000 after purchasing an additional 352,143 shares during the period. Capital International Investors boosted its position in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares during the period. Capital World Investors boosted its position in shares of Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares during the period. Northern Trust Corp boosted its position in shares of Amgen by 15.8% in the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after acquiring an additional 875,254 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Amgen by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock valued at $1,336,647,000 after acquiring an additional 685,785 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Activity

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

Amgen Price Performance

NASDAQ AMGN traded down $1.29 during trading on Wednesday, reaching $302.28. The company's stock had a trading volume of 572,912 shares, compared to its average volume of 2,910,799. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The stock has a market capitalization of $162.54 billion, a PE ratio of 27.58, a P/E/G ratio of 2.61 and a beta of 0.49. The firm has a fifty day moving average of $290.47 and a 200 day moving average of $291.42. Amgen Inc. has a one year low of $253.30 and a one year high of $340.89.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $8.05 billion. During the same quarter last year, the business posted $3.96 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analyst Ratings Changes

AMGN has been the subject of several research reports. Mizuho increased their price objective on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada reduced their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Guggenheim initiated coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price for the company. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Bank of America raised their target price on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $307.27.

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.