Meriwether Wealth & Planning LLC Purchases 44 Shares of Amgen Inc. (NASDAQ:AMGN)

Meriwether Wealth & Planning LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.7% in the 1st quarter, HoldingsChannel reports. The fund owned 1,645 shares of the medical research company’s stock after acquiring an additional 44 shares during the period. Meriwether Wealth & Planning LLC’s holdings in Amgen were worth $512,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Centricity Wealth Management LLC purchased a new position in Amgen in the fourth quarter worth $25,000. Pinney & Scofield Inc. acquired a new stake in shares of Amgen in the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC purchased a new position in Amgen during the 4th quarter worth $34,000. Finally, Atala Financial Inc acquired a new position in Amgen during the 4th quarter valued at about $34,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.1%

Shares of AMGN opened at $289.63 on Friday. The company has a market capitalization of $155.74 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 2.62 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 stock’s 50-day moving average price is $281.75 and its 200-day moving average price is $285.89. The company has a quick ratio of 0.88, a current ratio of 1.17 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 earnings per share (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 the consensus estimate of $8.05 billion. During the same period in the previous year, the company posted $3.96 earnings per share. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side 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 firm’s stock in a transaction on 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 owns 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. Bank of America increased their price target on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Cantor Fitzgerald assumed coverage on shares of Amgen in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price objective for the company. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Guggenheim began coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target for the company. Finally, Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Two equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has an average rating of “Hold” and a consensus target price 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.