Rockline Wealth Management LLC Grows Stake in Amgen Inc. (NASDAQ:AMGN)

Rockline Wealth Management LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,240 shares of the medical research company’s stock after purchasing an additional 38 shares during the quarter. Rockline Wealth Management LLC’s holdings in Amgen were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AMGN. Capital World Investors increased its holdings in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. Norges Bank purchased a new position in Amgen during the 4th quarter worth $1,541,991,000. GAMMA Investing LLC increased its holdings in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after purchasing an additional 3,653,205 shares during the period. Capital International Investors increased its holdings in Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after acquiring an additional 2,672,975 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMGN shares. Piper Sandler cut their price target on Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Cantor Fitzgerald started coverage on Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target on the stock. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. UBS Group reiterated a “neutral” rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Mizuho lifted their price target on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Two equities research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $309.22.

Amgen Stock Performance

Shares of AMGN opened at $289.33 on Friday. The stock has a 50-day moving average of $281.82 and a two-hundred day moving average of $285.96. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market cap of $155.58 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.62 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping 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 analysts’ expectations of $8.05 billion. During the same quarter in the previous year, the firm posted $3.96 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.76% of the company’s stock.

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.