SeaBridge Investment Advisors LLC Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

SeaBridge Investment Advisors LLC boosted its position in Amgen Inc. (NASDAQ:AMGN) by 3.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,632 shares of the medical research company’s stock after acquiring an additional 698 shares during the period. Amgen comprises 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new stake in Amgen in the 4th quarter worth approximately $26,000. First Pacific Financial boosted its holdings in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of Amgen by 66.2% in the 4th 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 last quarter. Heck Capital Advisors LLC acquired a new position in shares of Amgen in the 4th quarter valued at $36,000. Finally, Legacy Investment Solutions LLC boosted its holdings in shares of Amgen by 46.9% in the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 45 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMGN. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Piper Sandler reiterated an “overweight” rating and issued a $328.00 price target on shares of Amgen in a report on Friday, June 27th. Guggenheim started coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Finally, Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. 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 company currently has a consensus rating of “Hold” and a consensus price target of $307.82.

Amgen Stock Performance

NASDAQ:AMGN opened at $292.51 on Wednesday. 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 firm has a 50-day moving average of $284.34 and a two-hundred day moving average of $288.57. The stock has a market cap of $157.29 billion, a P/E ratio of 26.69, a PEG ratio of 2.68 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year 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 for the quarter, beating analysts’ consensus estimates 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%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.96 EPS. On average, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Activity

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 owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.69% 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.