Wedmont Private Capital Purchases 731 Shares of Amgen Inc. (NASDAQ:AMGN)

Wedmont Private Capital increased its position in Amgen Inc. (NASDAQ:AMGN) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,545 shares of the medical research company’s stock after purchasing an additional 731 shares during the period. Wedmont Private Capital’s holdings in Amgen were worth $2,158,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ascent Wealth Partners LLC lifted its position in Amgen by 0.7% during the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after acquiring an additional 64 shares during the period. ICICI Prudential Asset Management Co Ltd grew its holdings in Amgen by 242.2% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock worth $6,255,000 after purchasing an additional 16,985 shares during the period. Fisher Asset Management LLC increased its stake in shares of Amgen by 285.4% during the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock valued at $102,820,000 after purchasing an additional 292,137 shares in the last quarter. Aire Advisors LLC lifted its holdings in shares of Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock valued at $3,461,000 after purchasing an additional 2,762 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Amgen in the 4th quarter worth approximately $3,531,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 1.1%

Shares of Amgen stock opened at $290.33 on Friday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market capitalization of $156.11 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a fifty day moving average of $281.57 and a 200 day moving average of $285.42.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the previous year, the business earned $3.96 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were 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 now directly owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMGN. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Guggenheim initiated coverage on Amgen in a report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price target for the company. Cantor Fitzgerald started coverage on Amgen in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target for the company. Bank of America upped their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Finally, Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $309.22.

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.