Wells Trecaso Financial Group LLC Acquires 106 Shares of Amgen Inc. (NASDAQ:AMGN)

Wells Trecaso Financial Group LLC increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,257 shares of the medical research company’s stock after purchasing an additional 106 shares during the quarter. Wells Trecaso Financial Group LLC’s holdings in Amgen were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Centricity Wealth Management LLC purchased a new stake in Amgen during the fourth quarter valued at $25,000. Pinney & Scofield Inc. purchased a new stake in Amgen during the fourth quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE increased 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 acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in Amgen during the fourth quarter valued at $34,000. Finally, Atala Financial Inc purchased a new stake in Amgen during the fourth quarter valued at $34,000. 76.50% of the stock is owned by institutional investors.

Amgen Price Performance

Shares of Amgen stock opened at $290.05 on Wednesday. The stock has a 50 day moving average of $281.62 and a 200 day moving average of $285.78. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm has a market cap of $155.96 billion, a PE ratio of 26.46, a PEG ratio of 2.67 and a beta of 0.51. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70.

Amgen (NASDAQ:AMGN) last announced its quarterly 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. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period in the prior year, the company earned $3.96 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the firm’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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMGN. Mizuho upped their price objective on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Johnson Rice set a $294.00 price target on Amgen in a research report on Wednesday, March 5th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald assumed 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. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently 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.