Bruce G. Allen Investments LLC Acquires 158 Shares of Amgen Inc. (NASDAQ:AMGN)

Bruce G. Allen Investments LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 26.7% during the 1st quarter, HoldingsChannel reports. The fund owned 749 shares of the medical research company’s stock after buying an additional 158 shares during the period. Bruce G. Allen Investments LLC’s holdings in Amgen were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors lifted its stake in shares of Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after buying an additional 6,029,058 shares during the period. Norges Bank acquired a new position in Amgen in the 4th quarter valued at approximately $1,541,991,000. GAMMA Investing LLC lifted its position in shares of Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the period. Capital International Investors grew its holdings in shares of Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after purchasing an additional 3,495,503 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares of the company’s stock, 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 SEC, which is available through this hyperlink. 0.76% of the stock is owned by company insiders.

Amgen Price Performance

Amgen stock opened at $290.33 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a market capitalization of $156.11 billion, a P/E ratio of 38.45, a PEG ratio of 2.63 and a beta of 0.51. The business has a 50-day moving average of $281.57 and a 200-day moving average of $285.39. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last issued 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. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter in the previous year, the company earned $3.96 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on AMGN. Guggenheim began coverage on Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price for the company. Royal Bank of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Cantor Fitzgerald initiated coverage on shares of Amgen in a report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective for the company. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Mizuho increased their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Two 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 stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus target price of $309.22.

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.