Angeles Wealth Management LLC Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

Angeles Wealth Management LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 14.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,017 shares of the medical research company’s stock after acquiring an additional 132 shares during the period. Angeles Wealth Management LLC’s holdings in Amgen were worth $317,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AMGN. KPP Advisory Services LLC lifted its position in shares of Amgen by 87.1% in the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after acquiring an additional 2,716 shares in the last quarter. Advisor Resource Council bought a new position in Amgen in the 1st quarter worth approximately $1,331,000. DLK Investment Management LLC grew its holdings in Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after buying an additional 1,387 shares in the last quarter. Mariner LLC raised its position 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 valued at $238,316,000 after buying an additional 19,250 shares during the last quarter. Finally, Joseph Group Capital Management lifted its holdings in shares of Amgen by 15.1% in the fourth quarter. Joseph Group Capital Management now owns 9,934 shares of the medical research company’s stock worth $2,589,000 after buying an additional 1,301 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AMGN shares. Piper Sandler reaffirmed an “overweight” rating and set a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Mizuho boosted their target price on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Bank of America increased their price target on Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research note on Wednesday. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen has an average rating of “Hold” and a consensus price target of $307.27.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, 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 can be accessed through this link. 0.76% of the stock is currently owned by insiders.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $306.58 on Friday. 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 12 month low of $253.30 and a 12 month high of $340.89. The company has a market capitalization of $164.85 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 2.65 and a beta of 0.49. The firm’s 50-day moving average is $289.39 and its 200 day moving average is $290.88.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 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 for the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter in the prior year, the firm posted $3.96 earnings per share. The company’s quarterly 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.

Amgen Company 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.