1832 Asset Management L.P. Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

1832 Asset Management L.P. grew its position in shares of Amgen Inc. (NASDAQ:AMGNFree Report) by 239.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,419 shares of the medical research company’s stock after purchasing an additional 12,295 shares during the period. 1832 Asset Management L.P.’s holdings in Amgen were worth $5,017,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. purchased a new stake in shares of Amgen during the fourth quarter valued at approximately $29,000. United Community Bank purchased a new stake in shares of Amgen during the fourth quarter valued at approximately $29,000. Providence Capital Advisors LLC purchased a new stake in shares of Amgen during the third quarter valued at approximately $30,000. Planned Solutions Inc. purchased a new stake in shares of Amgen during the fourth quarter valued at approximately $30,000. Finally, Delos Wealth Advisors LLC raised its stake in shares of Amgen by 2,500.0% during 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 during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN opened at $305.02 on Friday. Amgen Inc. has a 1 year low of $215.32 and a 1 year high of $329.72. The company has a market cap of $163.62 billion, a price-to-earnings ratio of 43.57, a price-to-earnings-growth ratio of 2.78 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. The firm has a fifty day moving average of $290.13 and a 200-day moving average of $287.99.

Amgen (NASDAQ:AMGNGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.98 earnings per share. As a group, equities analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current year.

Insider Buying and Selling

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 sale, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on AMGN shares. Truist Financial restated a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Royal Bank of Canada dropped their price target on shares of Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. Raymond James started coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. Finally, Morgan Stanley lifted their price target on shares of Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus target price of $305.65.

Check Out Our Latest Research Report on AMGN

Amgen Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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