Amgen Inc. (NASDAQ:AMGN) Shares Bought by Ibex Wealth Advisors

Ibex Wealth Advisors grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,835 shares of the medical research company’s stock after purchasing an additional 872 shares during the period. Amgen makes up approximately 1.1% of Ibex Wealth Advisors’ investment portfolio, making the stock its 28th largest holding. Ibex Wealth Advisors’ holdings in Amgen were worth $8,672,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the fourth quarter valued at $25,000. Pinney & Scofield Inc. acquired a new position in shares of Amgen during the fourth quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC acquired a new position in Amgen during the fourth quarter worth about $34,000. Finally, Atala Financial Inc acquired a new position in Amgen during the fourth quarter worth about $34,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN opened at $289.98 on Tuesday. The stock has a market cap of $155.92 billion, a PE ratio of 38.41, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock’s 50 day simple moving average is $281.26 and its 200-day simple moving average is $285.36.

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

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Guggenheim initiated coverage on Amgen in a report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price on the stock. Johnson Rice set a $294.00 target price on Amgen in a report on Wednesday, March 5th. UBS Group reaffirmed a “neutral” rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Cantor Fitzgerald assumed coverage on Amgen in a report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 target price on the stock. Finally, Piper Sandler reduced their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $309.22.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.76% of the company’s stock.

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.