Heartwood Wealth Advisors LLC Has $1.05 Million Position in Amgen Inc. (NASDAQ:AMGN)

Heartwood Wealth Advisors LLC cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,702 shares of the medical research company’s stock after selling 89 shares during the period. Heartwood Wealth Advisors LLC’s holdings in Amgen were worth $1,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AMGN. Norges Bank acquired a new stake in shares of Amgen during the 4th quarter worth about $1,556,912,000. International Assets Investment Management LLC bought a new stake in shares of Amgen during the fourth quarter worth approximately $4,589,900,000. Royal Bank of Canada grew its position in shares of Amgen by 14.8% in the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after purchasing an additional 751,947 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Amgen by 486.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after purchasing an additional 745,929 shares during the period. Finally, abrdn plc lifted its holdings in Amgen by 150.4% during the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after purchasing an additional 626,810 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMGN. UBS Group increased their price target on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Truist Financial reissued a “buy” rating and set a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Raymond James assumed coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. Mizuho increased their price objective on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Finally, StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.85.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.69% of the company’s stock.

Amgen Stock Up 0.9 %

Shares of Amgen stock traded up $2.71 on Tuesday, hitting $305.99. The company had a trading volume of 2,166,151 shares, compared to its average volume of 2,744,282. The stock has a market capitalization of $164.14 billion, a price-to-earnings ratio of 43.71, a P/E/G ratio of 2.70 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72. The stock has a 50 day moving average of $294.16 and a 200-day moving average of $290.05.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. During the same period last year, the firm earned $3.98 earnings per share. The firm’s revenue was up 22.0% on a year-over-year basis. As a group, sell-side analysts forecast that Amgen Inc. will post 19.47 earnings per share 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.