Evergreen Wealth Management LLC Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Evergreen Wealth Management LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 73.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,464 shares of the medical research company’s stock after purchasing an additional 3,592 shares during the period. Amgen makes up approximately 1.6% of Evergreen Wealth Management LLC’s holdings, making the stock its 23rd largest position. Evergreen Wealth Management LLC’s holdings in Amgen were worth $2,637,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AMGN. First Pacific Financial lifted its stake in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after buying an additional 67 shares in the last quarter. Pinney & Scofield Inc. bought a new position in shares of Amgen in the fourth quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares in the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of Amgen by 1,388.9% in the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company’s stock worth $42,000 after buying an additional 125 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in shares of Amgen in the fourth quarter worth approximately $36,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMGN shares. Royal Bank Of Canada lowered their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. UBS Group restated a “neutral” rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $307.82.

Amgen Price Performance

AMGN traded down $0.07 during trading on Friday, hitting $298.18. 286,650 shares of the company traded hands, compared to its average volume of 2,830,090. The company has a market cap of $160.34 billion, a PE ratio of 27.12, a P/E/G ratio of 2.70 and a beta of 0.49. The stock’s 50-day simple moving average is $285.32 and its two-hundred day simple moving average is $288.91. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70.

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. The company 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%. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $3.96 earnings per share. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction 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 transaction, the senior vice president owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is owned by company insiders.

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.