Amgen Inc. (NASDAQ:AMGN) Shares Acquired by CapWealth Advisors LLC

CapWealth Advisors LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 30,212 shares of the medical research company’s stock after acquiring an additional 224 shares during the quarter. CapWealth Advisors LLC’s holdings in Amgen were worth $8,590,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Amgen by 0.3% in 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 purchasing an additional 165,636 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Amgen by 3.9% in 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 buying an additional 243,720 shares during the period. Royal Bank of Canada grew its stake in shares of Amgen by 14.8% in 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 in the last quarter. Norges Bank purchased a new stake in shares of Amgen during the fourth quarter worth $1,556,912,000. Finally, California Public Employees Retirement System increased its position in shares of 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 worth $782,288,000 after acquiring an additional 490,539 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AMGN. Mizuho boosted their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Morgan Stanley upped their target price 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. BMO Capital Markets lifted their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Raymond James began coverage on shares of Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating on the stock. Finally, TD Cowen decreased their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Amgen presently has an average rating of “Moderate Buy” and an average price target of $307.35.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.69% of the company’s stock.

Amgen Stock Performance

AMGN stock traded up $4.45 on Tuesday, hitting $315.91. The company’s stock had a trading volume of 1,852,532 shares, compared to its average volume of 2,728,681. Amgen Inc. has a 1 year low of $218.61 and a 1 year high of $329.72. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The stock has a market cap of $169.46 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58. The firm has a 50 day moving average of $306.97 and a two-hundred day moving average of $293.95.

Amgen (NASDAQ:AMGN) last announced its earnings results 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 business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.98 earnings per share. Equities analysts predict that Amgen Inc. will post 19.47 EPS for the current fiscal year.

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.