Warren Street Wealth Advisors LLC Buys New Position in Amgen Inc. (NASDAQ:AMGN)

Warren Street Wealth Advisors LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 922 shares of the medical research company's stock, valued at approximately $287,000.

Other large investors have also recently added to or reduced their stakes in the company. Lifestyle Asset Management Inc. purchased a new stake in shares of Amgen in the first quarter valued at about $205,000. Matrix Trust Co increased its stake in Amgen by 11.8% during the first quarter. Matrix Trust Co now owns 513 shares of the medical research company's stock worth $160,000 after acquiring an additional 54 shares during the last quarter. Portside Wealth Group LLC increased its position in shares of Amgen by 9.8% in the first quarter. Portside Wealth Group LLC now owns 1,611 shares of the medical research company's stock worth $502,000 after acquiring an additional 144 shares in the last quarter. Granite Bay Wealth Management LLC raised its position in Amgen by 11.0% in the first quarter. Granite Bay Wealth Management LLC now owns 17,832 shares of the medical research company's stock valued at $5,556,000 after purchasing an additional 1,763 shares during the period. Finally, Nixon Peabody Trust Co. boosted its holdings in Amgen by 19.5% in the 1st quarter. Nixon Peabody Trust Co. now owns 1,400 shares of the medical research company's stock worth $436,000 after acquiring an additional 228 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of NASDAQ AMGN traded up $3.23 during midday trading on Friday, reaching $290.33. The company's stock had a trading volume of 1,996,092 shares, compared to its average volume of 2,806,485. The company has a market cap of $156.11 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The business's 50 day moving average price is $281.91 and its two-hundred day moving average price is $285.36.

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. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.96 EPS. On average, analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMGN. Piper Sandler cut their target price on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. UBS Group reaffirmed a "neutral" rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Mizuho upped their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $309.22.

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.