Wealthfront Advisers LLC Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Wealthfront Advisers LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 30.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,065 shares of the medical research company's stock after acquiring an additional 15,521 shares during the quarter. Wealthfront Advisers LLC's holdings in Amgen were worth $20,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Pacific Financial raised its position in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the period. Pinney & Scofield Inc. acquired a new stake in shares of Amgen during the 4th quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after buying an additional 51 shares during the period. Global Wealth Strategies & Associates raised its holdings in Amgen by 1,388.9% in the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock valued at $42,000 after buying an additional 125 shares during the period. Finally, Heck Capital Advisors LLC acquired a new position in Amgen in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on 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 transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Amgen Trading Up 0.6%

Shares of Amgen stock opened at $297.03 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The stock has a fifty day simple moving average of $283.90 and a 200 day simple moving average of $288.55. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market capitalization of $159.72 billion, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 2.67 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released its 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 during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.96 earnings per share. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and set a $328.00 price objective on shares of Amgen in a research report on Friday, June 27th. Guggenheim began coverage on Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Finally, Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $307.82.

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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