Investment Advisory Services Inc. TX ADV Decreases Position in Amgen Inc. (NASDAQ:AMGN)

Investment Advisory Services Inc. TX ADV lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,238 shares of the medical research company’s stock after selling 62 shares during the period. Investment Advisory Services Inc. TX ADV’s holdings in Amgen were worth $1,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the period. IFP Advisors Inc raised its stake in Amgen by 6.2% during the 4th quarter. IFP Advisors Inc now owns 6,102 shares of the medical research company’s stock valued at $1,591,000 after acquiring an additional 357 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its position in Amgen by 4.3% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 4,913 shares of the medical research company’s stock worth $1,280,000 after acquiring an additional 204 shares during the period. FFT Wealth Management LLC grew its stake in shares of Amgen by 3.6% in the 4th quarter. FFT Wealth Management LLC now owns 1,402 shares of the medical research company’s stock valued at $365,000 after purchasing an additional 49 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in shares of Amgen by 84.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 12,746 shares of the medical research company’s stock valued at $3,322,000 after purchasing an additional 5,848 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 completion of the sale, the senior vice president now owns 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.76% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $280.35 on Thursday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market capitalization of $150.75 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 2.51 and a beta of 0.51. The stock has a fifty day moving average of $280.99 and a two-hundred day moving average of $286.00. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.96 EPS. On average, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMGN shares. Mizuho lifted their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Piper Sandler lowered their price objective on Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday. Finally, Royal Bank Of Canada cut their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $309.22.

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.