Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGNFree Report) by 10.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,611 shares of the medical research company’s stock after acquiring an additional 153 shares during the quarter. Proficio Capital Partners LLC’s holdings in Amgen were worth $458,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AMGN. Norges Bank purchased a new stake in shares of Amgen in the fourth quarter worth about $1,556,912,000. International Assets Investment Management LLC acquired a new stake in shares of Amgen during the 4th quarter worth approximately $4,589,900,000. Royal Bank of Canada increased its holdings in shares of Amgen by 14.8% during the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after purchasing an additional 751,947 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Amgen by 486.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after purchasing an additional 745,929 shares during the period. Finally, abrdn plc boosted its holdings in Amgen by 150.4% during the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after buying an additional 626,810 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Raymond James initiated coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. Morgan Stanley boosted their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Finally, TD Cowen cut their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and an average price target of $307.35.

View Our Latest Research Report on AMGN

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $3.67 during midday trading on Wednesday, hitting $319.58. The company had a trading volume of 321,822 shares, compared to its average volume of 2,710,309. Amgen Inc. has a twelve month low of $222.27 and a twelve month high of $329.72. The stock has a market cap of $171.43 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The business’s 50-day simple moving average is $306.97 and its 200-day simple moving average is $293.95.

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

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 Beh├žet'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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