Money Concepts Capital Corp Acquires 96 Shares of Amgen Inc. (NASDAQ:AMGN)

Money Concepts Capital Corp increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,209 shares of the medical research company’s stock after acquiring an additional 96 shares during the quarter. Money Concepts Capital Corp’s holdings in Amgen were worth $2,869,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMGN. KPP Advisory Services LLC increased its position in shares of Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock worth $1,817,000 after acquiring an additional 2,716 shares in the last quarter. Advisor Resource Council purchased a new position in shares of Amgen during the first quarter valued at approximately $1,331,000. Fisher Asset Management LLC grew its holdings in Amgen by 285.4% during the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock worth $102,820,000 after buying an additional 292,137 shares in the last quarter. Aire Advisors LLC lifted its stake in Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock valued at $3,461,000 after acquiring an additional 2,762 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of Amgen in the fourth quarter valued at about $3,531,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMGN. Bank of America upped their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price for the company. Piper Sandler dropped their price target on Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and a consensus price target of $309.22.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’s 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 directly owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Amgen Stock Performance

Shares of AMGN stock opened at $279.11 on Friday. The company has a market capitalization of $150.08 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 2.54 and a beta of 0.51. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The company’s 50-day moving average is $281.02 and its 200 day moving average is $286.01.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the prior year, the firm earned $3.96 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts expect 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.