Zhang Financial LLC Increases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Zhang Financial LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,335 shares of the medical research company’s stock after acquiring an additional 170 shares during the quarter. Zhang Financial LLC’s holdings in Amgen were worth $5,089,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in Amgen in the fourth quarter worth $25,000. Pinney & Scofield Inc. purchased a new position in Amgen during the fourth quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after buying an additional 51 shares during the period. Synergy Investment Management LLC purchased a new position in Amgen during the fourth quarter valued at $34,000. Finally, Atala Financial Inc purchased a new position in Amgen during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Piper Sandler lowered their price objective on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. UBS Group reissued a “neutral” rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. 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. Finally, Johnson Rice set a $294.00 price target on Amgen in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $309.22.

Amgen Trading Down 0.6%

Amgen stock opened at $291.81 on Thursday. The business has a 50-day simple moving average of $280.88 and a two-hundred day simple moving average of $285.46. The company has a market cap of $156.91 billion, a P/E ratio of 38.65, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

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

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, 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 SEC, which can be accessed through this link. 0.76% of the stock is currently owned by corporate insiders.

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.