Amgen Inc. (NASDAQ:AMGN) Position Increased by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lifted its position in Amgen Inc. (NASDAQ:AMGN) by 846.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,736 shares of the medical research company’s stock after acquiring an additional 170,577 shares during the period. Amgen comprises approximately 1.2% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 25th largest position. Ferguson Wellman Capital Management Inc.’s holdings in Amgen were worth $59,424,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AMGN. Tallon Kerry Patrick acquired a new stake in Amgen during the fourth quarter valued at $270,000. Brighton Jones LLC lifted its holdings in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares during the last quarter. Essex Financial Services Inc. grew its stake in shares of Amgen by 6.6% in the 4th quarter. Essex Financial Services Inc. now owns 5,199 shares of the medical research company’s stock valued at $1,355,000 after buying an additional 321 shares in the last quarter. Sovran Advisors LLC acquired a new position in Amgen in the fourth quarter worth approximately $1,141,000. Finally, Augustine Asset Management Inc. lifted its stake in Amgen by 45.2% in the fourth quarter. Augustine Asset Management Inc. now owns 8,520 shares of the medical research company’s stock valued at $2,221,000 after acquiring an additional 2,653 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 0.6%

Shares of NASDAQ AMGN opened at $291.81 on Thursday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm’s 50-day moving average is $280.88 and its 200-day moving average is $285.46. 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 $156.91 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company 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 posted $3.96 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on AMGN. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Mizuho upped their target price on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. UBS Group restated a “neutral” rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Finally, Johnson Rice set a $294.00 target price on shares of Amgen in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus target price of $309.22.

Insider Transactions at Amgen

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. 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.