Kingswood Wealth Advisors LLC Has $1.10 Million Position in Amgen Inc. (NASDAQ:AMGN)

Kingswood Wealth Advisors LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,524 shares of the medical research company’s stock after acquiring an additional 79 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Amgen were worth $1,096,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Accelerate Investment Advisors LLC increased its position in shares of Amgen by 23.3% in the first quarter. Accelerate Investment Advisors LLC now owns 1,496 shares of the medical research company’s stock worth $466,000 after purchasing an additional 283 shares during the period. Hoge Financial Services LLC acquired a new stake in Amgen during the first quarter worth about $214,000. Wells Trecaso Financial Group LLC increased its holdings in Amgen by 4.9% in the 1st quarter. Wells Trecaso Financial Group LLC now owns 2,257 shares of the medical research company’s stock valued at $703,000 after buying an additional 106 shares during the period. Clarius Group LLC raised its position in shares of Amgen by 23.7% in the 1st quarter. Clarius Group LLC now owns 10,277 shares of the medical research company’s stock valued at $3,202,000 after buying an additional 1,970 shares in the last quarter. Finally, Planning Center Inc. bought a new stake in shares of Amgen during the 1st quarter worth approximately $215,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Down 0.1%

Shares of AMGN stock opened at $289.63 on Friday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The stock has a market cap of $155.74 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 2.62 and a beta of 0.51. The stock has a 50-day moving average of $281.75 and a 200-day moving average of $285.89.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the firm posted $3.96 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMGN. Johnson Rice set a $294.00 price objective on shares of Amgen in a research note on Wednesday, March 5th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Mizuho boosted their price target on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $309.22.

About Amgen

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.