Claro Advisors LLC Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

Claro Advisors LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 118.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,691 shares of the medical research company’s stock after buying an additional 2,545 shares during the quarter. Claro Advisors LLC’s holdings in Amgen were worth $1,334,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Amgen in the 4th quarter valued at approximately $1,556,912,000. International Assets Investment Management LLC purchased a new stake in shares of Amgen in the fourth quarter valued at approximately $4,589,900,000. Royal Bank of Canada grew its holdings in Amgen by 14.8% during the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after acquiring an additional 751,947 shares during the period. Assenagon Asset Management S.A. raised its position in Amgen by 486.6% in 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 acquiring an additional 745,929 shares in the last quarter. Finally, abrdn plc lifted its holdings in Amgen by 150.4% in the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after acquiring an additional 626,810 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 0.5 %

AMGN stock traded down $1.44 during midday trading on Monday, hitting $311.01. The stock had a trading volume of 1,768,651 shares, compared to its average volume of 2,783,121. Amgen Inc. has a 12-month low of $218.44 and a 12-month high of $329.72. The firm has a market cap of $166.84 billion, a PE ratio of 44.36, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58. The company’s 50-day moving average price is $301.56 and its 200 day moving average price is $292.30. 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 (NASDAQ:AMGN) last released its earnings results 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 return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same period in the prior year, the firm posted $3.98 earnings per share. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, equities research analysts predict that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price target on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. TD Cowen dropped their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Truist Financial reissued a “buy” rating and set a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Royal Bank of Canada raised their price objective on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Finally, Mizuho boosted their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $307.35.

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.