Sound Income Strategies LLC Acquires 50 Shares of Amgen Inc. (NASDAQ:AMGN)

Sound Income Strategies LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 6.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 834 shares of the medical research company’s stock after acquiring an additional 50 shares during the quarter. Sound Income Strategies LLC’s holdings in Amgen were worth $260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after buying an additional 339,522 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Amgen by 25.4% during the 4th 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 buying an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC raised its stake in Amgen by 2.9% during the 4th 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 buying an additional 352,143 shares during the last quarter. Capital International Investors raised its stake in Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after buying an additional 3,495,503 shares during the last quarter. Finally, Capital World Investors raised its stake in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after buying an additional 6,029,058 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 0.7%

AMGN opened at $295.22 on Monday. The firm has a 50-day simple moving average of $281.33 and a two-hundred day simple moving average of $285.66. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a market capitalization of $158.74 billion, a PE ratio of 39.10, a price-to-earnings-growth 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 announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the firm earned $3.96 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Guggenheim assumed coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price for the company. Royal Bank of Canada reduced their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Finally, Mizuho upped their price objective on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $309.22.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm’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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is owned by insiders.

Amgen 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.