Dynamic Advisor Solutions LLC Acquires 1,591 Shares of Amgen Inc. (NASDAQ:AMGN)

Dynamic Advisor Solutions LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 6.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,928 shares of the medical research company’s stock after purchasing an additional 1,591 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Amgen were worth $8,701,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Dohj LLC raised its stake in shares of Amgen by 2.0% in the first quarter. Dohj LLC now owns 3,727 shares of the medical research company’s stock valued at $1,161,000 after acquiring an additional 72 shares during the period. Missouri Trust & Investment Co grew its holdings in Amgen by 16.3% during the 1st quarter. Missouri Trust & Investment Co now owns 307 shares of the medical research company’s stock worth $96,000 after acquiring an additional 43 shares in the last quarter. Everpar Advisors LLC grew its holdings in Amgen by 7.0% during the 1st quarter. Everpar Advisors LLC now owns 2,207 shares of the medical research company’s stock worth $688,000 after acquiring an additional 145 shares in the last quarter. Hoey Investments Inc. grew its holdings in Amgen by 31.7% during the 1st quarter. Hoey Investments Inc. now owns 7,047 shares of the medical research company’s stock worth $2,195,000 after acquiring an additional 1,698 shares in the last quarter. Finally, Southland Equity Partners LLC boosted its holdings in shares of Amgen by 3.8% in the 1st quarter. Southland Equity Partners LLC now owns 1,715 shares of the medical research company’s stock valued at $534,000 after buying an additional 62 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.7%

Shares of AMGN stock opened at $295.22 on Friday. The company’s 50-day moving average price is $281.33 and its 200-day moving average price is $285.62. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock has a market cap of $158.74 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.63 and a beta of 0.51. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMGN. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Piper Sandler cut their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price for the company. Finally, Royal Bank of Canada cut their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus target price of $309.22.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business’s 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 $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.76% of the company’s stock.

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.