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

SeaBridge Investment Advisors LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 3.2% during the first quarter, HoldingsChannel.com reports. The firm owned 22,632 shares of the medical research company’s stock after purchasing an additional 698 shares during the period. Amgen makes up approximately 1.5% of SeaBridge Investment Advisors LLC’s holdings, making the stock its 15th biggest holding. SeaBridge Investment Advisors LLC’s holdings in Amgen were worth $7,051,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Beck Mack & Oliver LLC raised its stake in Amgen by 0.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after acquiring an additional 34 shares during the period. Continuum Advisory LLC raised its stake in Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock worth $1,343,000 after acquiring an additional 35 shares during the period. Octavia Wealth Advisors LLC raised its stake in Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock worth $759,000 after acquiring an additional 35 shares during the period. Trillium Asset Management LLC raised its stake in Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after acquiring an additional 37 shares during the period. Finally, Affinity Capital Advisors LLC raised its stake in Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock worth $246,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of several research reports. Piper Sandler reiterated an “overweight” rating and set a $328.00 price objective on shares of Amgen in a research note on Friday, June 27th. Royal Bank Of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, UBS Group restated a “neutral” rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $307.82.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $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 SEC, which is available at the SEC website. Insiders own 0.69% of the company’s stock.

Amgen Trading Down 1.5%

Amgen stock opened at $292.51 on Wednesday. The firm has a 50 day simple moving average of $284.34 and a 200-day simple moving average of $288.57. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The stock has a market capitalization of $157.29 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $3.96 earnings per share. As a group, equities research 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.