Amgen Inc. (NASDAQ:AMGN) Position Increased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 13.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,289 shares of the medical research company’s stock after buying an additional 390 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Amgen were worth $1,025,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AMGN. NewSquare Capital LLC boosted its stake in Amgen by 0.4% in the 1st quarter. NewSquare Capital LLC now owns 25,037 shares of the medical research company’s stock worth $7,712,000 after purchasing an additional 90 shares during the period. Greystone Financial Group LLC boosted its stake in Amgen by 25.4% in the 1st quarter. Greystone Financial Group LLC now owns 30,597 shares of the medical research company’s stock worth $9,532,000 after purchasing an additional 6,204 shares during the period. Wesbanco Bank Inc. boosted its stake in Amgen by 23.2% in the 1st quarter. Wesbanco Bank Inc. now owns 64,170 shares of the medical research company’s stock worth $19,992,000 after purchasing an additional 12,092 shares during the period. First Citizens Bank & Trust Co. boosted its stake in Amgen by 0.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 9,862 shares of the medical research company’s stock worth $3,073,000 after purchasing an additional 58 shares during the period. Finally, Priebe Wealth Holdings LLC acquired a new position in Amgen in the 1st quarter worth approximately $209,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

NASDAQ AMGN opened at $290.33 on Monday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market capitalization of $156.11 billion, a price-to-earnings ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51. The company’s fifty day moving average is $281.57 and its two-hundred day moving average is $285.39. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $3.96 EPS. Equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president now directly owns 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMGN. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. UBS Group reaffirmed a “neutral” rating and issued a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Royal Bank of Canada cut their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, Mizuho increased their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $309.22.

Amgen Company 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.