First Pacific Financial Has $28,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

First Pacific Financial raised its position in Amgen Inc. (NASDAQ:AMGN) by 304.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 89 shares of the medical research company’s stock after buying an additional 67 shares during the period. First Pacific Financial’s holdings in Amgen were worth $28,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Advisor Resource Council acquired a new stake in Amgen in the first quarter worth about $1,331,000. Fisher Asset Management LLC boosted its stake in shares of Amgen by 285.4% in the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock valued at $102,820,000 after purchasing an additional 292,137 shares during the last quarter. Aire Advisors LLC grew its position in shares of Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock worth $3,461,000 after buying an additional 2,762 shares during the period. Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Amgen during the fourth quarter worth approximately $3,531,000. Finally, Mariner LLC raised its stake in shares of Amgen by 2.2% during the fourth quarter. Mariner LLC now owns 914,380 shares of the medical research company’s stock worth $238,316,000 after buying an additional 19,250 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on AMGN. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Piper Sandler dropped their price objective on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Finally, Bank of America increased their target price on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $309.22.

Amgen Price Performance

AMGN stock opened at $280.35 on Thursday. The stock has a 50-day moving average price of $280.99 and a two-hundred day moving average price of $286.00. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a market cap of $150.75 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 2.51 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 posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $3.96 earnings per share. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 sale, the senior vice president now directly owns 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.