Whipplewood Advisors LLC Buys 670 Shares of Amgen Inc. (NASDAQ:AMGN)

Whipplewood Advisors LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 169.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,066 shares of the medical research company’s stock after purchasing an additional 670 shares during the period. Whipplewood Advisors LLC’s holdings in Amgen were worth $332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. Ascent Wealth Partners LLC raised its position in Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after acquiring an additional 64 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its holdings in shares of Amgen by 242.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock valued at $6,255,000 after purchasing an additional 16,985 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Amgen by 285.4% in the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock valued at $102,820,000 after purchasing an additional 292,137 shares during the period. Aire Advisors LLC lifted its stake in Amgen by 26.3% in the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock valued at $3,461,000 after purchasing an additional 2,762 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new position in Amgen during the fourth quarter worth about $3,531,000. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AMGN shares. Bank of America upped their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. UBS Group reissued 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. Mizuho raised their price target on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Piper Sandler dropped their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research report 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $309.22.

Amgen Stock Performance

NASDAQ AMGN opened at $288.47 on Tuesday. The firm has a 50-day moving average price of $283.12 and a two-hundred day moving average price of $285.27. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market capitalization of $155.11 billion, a P/E ratio of 38.21, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results 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 the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.96 earnings per share. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

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.