Grimes & Company Inc. Grows Stake in Amgen Inc. (NASDAQ:AMGN)

Grimes & Company Inc. increased its stake in Amgen Inc. (NASDAQ:AMGN) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 93,146 shares of the medical research company’s stock after purchasing an additional 1,715 shares during the quarter. Amgen makes up approximately 0.8% of Grimes & Company Inc.’s portfolio, making the stock its 26th biggest holding. Grimes & Company Inc.’s holdings in Amgen were worth $26,483,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. BOK Financial Private Wealth Inc. purchased a new stake in shares of Amgen during the 4th quarter valued at approximately $29,000. United Community Bank purchased a new stake in shares of Amgen during the fourth quarter worth $29,000. Planned Solutions Inc. bought a new position in shares of Amgen in the fourth quarter worth $30,000. Delos Wealth Advisors LLC grew its position in shares of Amgen by 2,500.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Hartford Financial Management Inc. raised its stake in shares of Amgen by 56.9% during the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.69% of the company’s stock.

Amgen Trading Down 0.4 %

NASDAQ:AMGN traded down $1.24 during midday trading on Friday, reaching $312.45. 3,518,174 shares of the stock traded hands, compared to its average volume of 2,437,626. The stock has a market capitalization of $167.61 billion, a P/E ratio of 44.64, a PEG ratio of 2.83 and a beta of 0.60. Amgen Inc. has a 12 month low of $218.44 and a 12 month high of $329.72. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The company has a fifty day moving average of $301.56 and a 200 day moving average of $292.23.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 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 firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the firm posted $3.98 earnings per share. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, research analysts predict that Amgen Inc. will post 19.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Truist Financial reaffirmed a “buy” rating and set a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $230.00 to $300.00 in a report on Friday, May 3rd. Argus upped their price target on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday. Finally, William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $307.35.

About Amgen

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.