Wealth Alliance LLC Acquires 999 Shares of Amgen Inc. (NASDAQ:AMGN)

Wealth Alliance LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,248 shares of the medical research company's stock after purchasing an additional 999 shares during the quarter. Wealth Alliance LLC's holdings in Amgen were worth $3,504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KPP Advisory Services LLC grew its position in shares of Amgen by 87.1% in the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after purchasing an additional 2,716 shares during the period. Advisor Resource Council acquired a new position in Amgen during the 1st quarter worth approximately $1,331,000. DLK Investment Management LLC boosted its position in Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after acquiring an additional 1,387 shares during the last quarter. Aire Advisors LLC boosted its position in Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock worth $3,461,000 after acquiring an additional 2,762 shares during the last quarter. Finally, Mariner LLC boosted its position in Amgen by 2.2% during the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock worth $238,316,000 after acquiring an additional 19,250 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Trading Down 1.2%

AMGN opened at $294.76 on Friday. The stock has a market cap of $158.50 billion, a PE ratio of 26.89, a PEG ratio of 2.66 and a beta of 0.49. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The business has a 50 day moving average of $285.90 and a 200-day moving average of $289.35. 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 announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating 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 return on equity of 176.11% and a net margin of 17.39%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.96 earnings per share. Equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. UBS Group reissued a "neutral" rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Mizuho lifted their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.

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