Csenge Advisory Group Has $1.98 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Csenge Advisory Group increased its stake in Amgen Inc. (NASDAQ:AMGN) by 3.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,343 shares of the medical research company’s stock after purchasing an additional 204 shares during the quarter. Csenge Advisory Group’s holdings in Amgen were worth $1,976,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Formidable Asset Management LLC grew its holdings in Amgen by 6.4% in the 1st quarter. Formidable Asset Management LLC now owns 7,784 shares of the medical research company’s stock valued at $2,425,000 after buying an additional 468 shares during the last quarter. Willner & Heller LLC lifted its holdings in shares of Amgen by 2.1% during the first quarter. Willner & Heller LLC now owns 2,986 shares of the medical research company’s stock worth $930,000 after buying an additional 61 shares during the last quarter. Lipe & Dalton boosted its position in shares of Amgen by 0.8% in the first quarter. Lipe & Dalton now owns 8,871 shares of the medical research company’s stock valued at $2,764,000 after acquiring an additional 70 shares during the period. Evergreen Wealth Management LLC grew its stake in shares of Amgen by 73.7% in the first quarter. Evergreen Wealth Management LLC now owns 8,464 shares of the medical research company’s stock worth $2,637,000 after acquiring an additional 3,592 shares during the last quarter. Finally, Ring Mountain Capital LLC bought a new position in Amgen during the first quarter worth $203,000. Institutional investors own 76.50% of the company’s stock.

Insider Transactions 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 value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Amgen Stock Down 1.2%

Shares of Amgen stock opened at $294.76 on Friday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The business has a fifty day simple moving average of $285.90 and a 200 day simple moving average of $289.35. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The stock has a market cap of $158.50 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.66 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last posted its 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 firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the previous year, the firm earned $3.96 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. Research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMGN shares. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Royal Bank Of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. UBS Group reissued a “neutral” rating and issued a $315.00 target price (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $307.82.

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.