Amgen Inc. (NASDAQ:AMGN) Position Increased by Graypoint LLC

Graypoint LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,859 shares of the medical research company’s stock after purchasing an additional 520 shares during the period. Graypoint LLC’s holdings in Amgen were worth $2,448,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AMGN. Capital World Investors increased 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 worth $1,693,042,000 after acquiring an additional 6,029,058 shares during the period. Norges Bank acquired a new stake in shares of Amgen in the 4th quarter worth about $1,541,991,000. GAMMA Investing LLC increased 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 worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the period. Capital International Investors grew its position 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 buying an additional 3,495,503 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Amgen by 52.7% in the 4th quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company’s stock valued at $858,020,000 after buying an additional 1,135,884 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AMGN shares. Guggenheim started coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Royal Bank Of Canada decreased their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $307.82.

Amgen Price Performance

AMGN stock opened at $299.02 on Thursday. 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 Inc. has a one year low of $253.30 and a one year high of $346.85. The firm has a market capitalization of $160.79 billion, a PE ratio of 27.28, a P/E/G ratio of 2.64 and a beta of 0.49. The firm has a 50-day moving average of $284.80 and a two-hundred day moving average of $288.65.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.96 earnings per share. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 8,162 shares of the company’s stock, valued at $2,364,368.16. This 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 can be accessed through this link. 0.76% of the stock is owned by company insiders.

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.