Sumitomo Mitsui Trust Holdings Inc. Purchases 3,127 Shares of Amgen Inc. (NASDAQ:AMGN)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in Amgen Inc. (NASDAQ:AMGN) by 0.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,660,042 shares of the medical research company’s stock after purchasing an additional 3,127 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of Amgen worth $471,983,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Amgen by 0.3% during the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after acquiring an additional 165,636 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Amgen by 3.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock valued at $1,890,769,000 after purchasing an additional 243,720 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Amgen by 14.8% during the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after purchasing an additional 751,947 shares during the period. Norges Bank purchased a new position in shares of Amgen in the 4th quarter worth about $1,556,912,000. Finally, California Public Employees Retirement System grew its position in Amgen by 22.0% during the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock valued at $782,288,000 after buying an additional 490,539 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMGN. Mizuho lifted their price objective 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 reissued a “buy” rating and issued a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. BMO Capital Markets upped their price target on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Royal Bank of Canada lifted their price objective on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Finally, TD Cowen dropped their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average target price of $307.35.

Amgen Price Performance

NASDAQ:AMGN traded up $0.29 during mid-day trading on Wednesday, reaching $311.06. The stock had a trading volume of 124,876 shares, compared to its average volume of 2,752,164. Amgen Inc. has a one year low of $218.44 and a one year 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 firm has a 50 day moving average price of $302.34 and a two-hundred day moving average price of $292.55. The stock has a market capitalization of $166.86 billion, a P/E ratio of 44.40, a P/E/G ratio of 2.82 and a beta of 0.58.

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

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by company insiders.

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.