791 Shares in Amgen Inc. (NASDAQ:AMGN) Acquired by Tower Wealth Partners Inc.

Tower Wealth Partners Inc. bought a new position in Amgen Inc. (NASDAQ:AMGN) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 791 shares of the medical research company’s stock, valued at approximately $225,000.

Several other hedge funds have also recently modified their holdings of AMGN. Plimoth Trust Co. LLC raised its holdings in Amgen by 23.2% in the 1st quarter. Plimoth Trust Co. LLC now owns 4,878 shares of the medical research company’s stock worth $1,387,000 after purchasing an additional 919 shares during the period. Silverlake Wealth Management LLC boosted its stake in Amgen by 0.8% during the first quarter. Silverlake Wealth Management LLC now owns 4,999 shares of the medical research company’s stock worth $1,421,000 after buying an additional 39 shares during the period. Saxon Interests Inc. lifted its stake in Amgen by 14.6% in the first quarter. Saxon Interests Inc. now owns 1,893 shares of the medical research company’s stock worth $538,000 after purchasing an additional 241 shares during the last quarter. Naviter Wealth LLC lifted its position in shares of Amgen by 34.5% during the first quarter. Naviter Wealth LLC now owns 4,950 shares of the medical research company’s stock worth $1,407,000 after purchasing an additional 1,271 shares during the last quarter. Finally, West Oak Capital LLC grew its stake in Amgen by 0.7% in the 1st quarter. West Oak Capital LLC now owns 8,536 shares of the medical research company’s stock worth $2,427,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Raymond James assumed coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating on the stock. Truist Financial reissued a “buy” rating and set a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. UBS Group lifted their price objective on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Finally, Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $307.35.

Amgen Stock Down 0.1 %

Shares of AMGN opened at $310.77 on Wednesday. The company’s 50-day moving average price is $302.34 and its 200 day moving average price is $292.55. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. 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 $166.71 billion, a P/E ratio of 44.40, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58.

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

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’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 transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which is available at 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.