Envestnet Asset Management Inc. Has $349.17 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Envestnet Asset Management Inc. reduced its holdings in Amgen Inc. (NASDAQ:AMGNFree Report) by 3.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,212,300 shares of the medical research company’s stock after selling 46,273 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Amgen were worth $349,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stephens Inc. AR increased its position in Amgen by 0.6% in the 4th quarter. Stephens Inc. AR now owns 50,025 shares of the medical research company’s stock valued at $14,408,000 after acquiring an additional 275 shares during the period. First National Bank of Omaha increased its position in Amgen by 28.6% in the 4th quarter. First National Bank of Omaha now owns 32,890 shares of the medical research company’s stock valued at $9,473,000 after acquiring an additional 7,315 shares during the period. Pinnacle West Asset Management Inc. increased its position in Amgen by 5.1% in the 4th quarter. Pinnacle West Asset Management Inc. now owns 9,670 shares of the medical research company’s stock valued at $2,785,000 after acquiring an additional 465 shares during the period. Exencial Wealth Advisors LLC increased its position in Amgen by 4.6% in the 4th quarter. Exencial Wealth Advisors LLC now owns 19,676 shares of the medical research company’s stock valued at $5,667,000 after acquiring an additional 869 shares during the period. Finally, Pinebridge Investments L.P. increased its position in Amgen by 66.5% in the 4th quarter. Pinebridge Investments L.P. now owns 120,401 shares of the medical research company’s stock valued at $34,678,000 after acquiring an additional 48,099 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $305.02 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm has a market capitalization of $163.62 billion, a PE ratio of 43.57, a P/E/G ratio of 2.76 and a beta of 0.60. Amgen Inc. has a twelve month low of $215.32 and a twelve month high of $329.72. The company has a 50-day moving average price of $290.13 and a two-hundred day moving average price of $287.99.

Amgen (NASDAQ:AMGNGet Free Report) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the business earned $3.98 earnings per share. Equities analysts forecast that Amgen Inc. will post 19.47 EPS for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Raymond James assumed coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. UBS Group increased their target price on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets increased their target price on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average price target of $305.65.

Check Out Our Latest Report on Amgen

Amgen Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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