Kolinsky Wealth Management LLC Has $540,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Kolinsky Wealth Management LLC boosted its position in Amgen Inc. (NASDAQ:AMGNFree Report) by 12.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,874 shares of the medical research company’s stock after buying an additional 201 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in Amgen were worth $540,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMGN. Norges Bank acquired a new position in shares of Amgen during the fourth quarter worth $1,556,912,000. International Assets Investment Management LLC acquired a new position in Amgen in the fourth quarter valued at $4,589,900,000. Assenagon Asset Management S.A. lifted its holdings in Amgen by 486.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after buying an additional 745,929 shares during the period. abrdn plc increased its stake in Amgen by 150.4% in the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after purchasing an additional 626,810 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Amgen by 111.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 989,061 shares of the medical research company’s stock valued at $284,869,000 after purchasing an additional 522,367 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of AMGN stock traded down $0.67 during mid-day trading on Friday, hitting $305.02. The company had a trading volume of 1,925,000 shares, compared to its average volume of 2,220,412. The stock’s 50 day moving average price is $290.13 and its 200-day moving average price is $287.99. Amgen Inc. has a 52-week low of $215.32 and a 52-week high of $329.72. The company has a market capitalization of $163.62 billion, a P/E ratio of 43.57, a P/E/G ratio of 2.76 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98.

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. BMO Capital Markets boosted their target price on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Finally, UBS Group upped their price target on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.65.

Check Out Our Latest Stock Analysis on AMGN

Amgen 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.

Further Reading

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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