KFG Wealth Management LLC Purchases 214 Shares of Amgen Inc. (NASDAQ:AMGN)

KFG Wealth Management LLC increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,463 shares of the medical research company’s stock after purchasing an additional 214 shares during the period. KFG Wealth Management LLC’s holdings in Amgen were worth $1,079,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Centricity Wealth Management LLC acquired a new stake in Amgen in the 4th quarter valued at $25,000. Pinney & Scofield Inc. acquired a new stake in Amgen in the 4th quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in 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 buying an additional 51 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in Amgen in the 4th quarter valued at $34,000. Finally, Atala Financial Inc acquired a new stake in Amgen in the 4th quarter valued at $34,000. 76.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AMGN shares. Royal Bank of Canada reduced their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective on the stock. UBS Group reissued a “neutral” rating and issued a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Finally, Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $309.22.

Amgen Stock Performance

NASDAQ:AMGN opened at $290.33 on Friday. The firm has a market cap of $156.11 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The business’s fifty day moving average is $281.57 and its 200 day moving average is $285.44. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.96 EPS. Research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

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.