Forefront Wealth Management Inc. Acquires 130 Shares of Amgen Inc. (NASDAQ:AMGN)

Forefront Wealth Management Inc. raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,126 shares of the medical research company’s stock after buying an additional 130 shares during the period. Forefront Wealth Management Inc.’s holdings in Amgen were worth $1,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Amgen by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after purchasing an additional 339,522 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock valued at $3,245,881,000 after purchasing an additional 352,143 shares in the last quarter. Capital International Investors lifted its position in shares of Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of Amgen by 1,292.0% during 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 purchasing an additional 6,029,058 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

NASDAQ AMGN opened at $295.22 on Monday. The company’s 50 day moving average is $281.33 and its 200-day moving average is $285.66. The firm has a market cap of $158.74 billion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. 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 issued its quarterly earnings data 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. 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 12.24% and a return on equity of 176.32%. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.96 earnings per share. Sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were 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 $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price target on the stock. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Johnson Rice set a $294.00 price target on shares of Amgen in a research report on Wednesday, March 5th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Finally, Royal Bank of Canada lowered their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target 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.