Amgen Inc. (NASDAQ:AMGN) Stake Lifted by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. increased its stake in Amgen Inc. (NASDAQ:AMGN) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,260 shares of the medical research company’s stock after acquiring an additional 277 shares during the period. Symphony Financial Ltd. Co.’s holdings in Amgen were worth $2,349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Diversified Trust Co boosted its holdings in shares of Amgen by 76.8% in the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after acquiring an additional 16,376 shares in the last quarter. Provence Wealth Management Group boosted its holdings in Amgen by 11.9% during the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock worth $416,000 after buying an additional 154 shares in the last quarter. Kinsale Capital Group Inc. grew its position in Amgen by 33.0% in the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after buying an additional 2,814 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its position in Amgen by 2.4% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after buying an additional 109 shares during the last quarter. Finally, Traynor Capital Management Inc. grew its position in Amgen by 9.5% in the fourth quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock worth $5,455,000 after buying an additional 1,650 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMGN shares. Mizuho lifted their price target on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Truist Financial reiterated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. Raymond James began coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. BMO Capital Markets lifted their price objective on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Argus lifted their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $307.35.

Amgen Stock Down 0.4 %

Shares of AMGN stock traded down $1.24 on Friday, hitting $312.45. The company’s stock had a trading volume of 3,518,174 shares, compared to its average volume of 2,437,626. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week high of $329.72. The firm’s fifty day moving average price is $301.56 and its 200-day moving average price is $292.23. The stock has a market capitalization of $167.61 billion, a price-to-earnings ratio of 44.64, a P/E/G ratio of 2.82 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same quarter in the previous year, the business earned $3.98 EPS. Amgen’s quarterly revenue was up 22.0% compared to the same quarter last year. Research analysts anticipate that Amgen Inc. will post 19.47 EPS for the current year.

Insiders Place Their Bets

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

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.