Amgen Inc. (NASDAQ:AMGN) Shares Bought by Fortress Financial Solutions LLC

Fortress Financial Solutions LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,122 shares of the medical research company’s stock after acquiring an additional 44 shares during the quarter. Fortress Financial Solutions LLC’s holdings in Amgen were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in shares of Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after buying an additional 6,029,058 shares during the period. Norges Bank acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $1,541,991,000. GAMMA Investing LLC lifted its holdings in shares of Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock valued at $1,140,768,000 after buying an additional 3,653,205 shares during the period. Capital International Investors increased its stake in Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Amgen by 52.7% in the fourth quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company’s stock valued at $858,020,000 after purchasing an additional 1,135,884 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMGN. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Piper Sandler reaffirmed an “overweight” rating and set a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Mizuho boosted their price objective on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $307.82.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,500 shares of the business’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 owned 8,162 shares of the company’s stock, 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 SEC, which can be accessed through this link. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

NASDAQ AMGN opened at $295.27 on Monday. The stock’s 50-day moving average price is $283.56 and its two-hundred day moving average price is $288.31. 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 company has a market cap of $158.77 billion, a PE ratio of 26.94, a PEG ratio of 2.67 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

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 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 for the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter in the previous year, the business posted $3.96 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

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.