Gateway Investment Advisers LLC Has $44.08 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Gateway Investment Advisers LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 0.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,484 shares of the medical research company’s stock after purchasing an additional 211 shares during the period. Gateway Investment Advisers LLC’s holdings in Amgen were worth $44,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in shares of Amgen during the 4th quarter valued at $270,000. Brighton Jones LLC increased its holdings in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its holdings in Amgen by 4.2% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 1,422 shares of the medical research company’s stock valued at $371,000 after buying an additional 57 shares during the last quarter. Silver Oak Securities Incorporated raised its position in Amgen by 18.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,691 shares of the medical research company’s stock worth $439,000 after purchasing an additional 268 shares during the last quarter. Finally, Telos Capital Management Inc. raised its position in shares of Amgen by 3.2% during the fourth quarter. Telos Capital Management Inc. now owns 25,997 shares of the medical research company’s stock worth $6,776,000 after acquiring an additional 797 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. UBS Group reaffirmed a “neutral” rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Royal Bank of Canada reduced their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Amgen currently has an average rating of “Hold” and an average target price of $309.22.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.76% of the stock is owned by company insiders.

Amgen Stock Performance

Shares of AMGN opened at $290.33 on Friday. The company has a market capitalization of $156.11 billion, a price-to-earnings ratio of 38.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock has a 50 day moving average price of $281.57 and a 200 day moving average price of $285.44.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the previous year, the business earned $3.96 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

About Amgen

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.