Beacon Capital Management LLC Acquires 43 Shares of Amgen Inc. (NASDAQ:AMGN)

Beacon Capital Management LLC lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 11.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 417 shares of the medical research company’s stock after acquiring an additional 43 shares during the period. Beacon Capital Management LLC’s holdings in Amgen were worth $130,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors lifted its holdings 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 purchasing an additional 6,029,058 shares during the last quarter. Norges Bank bought a new position in Amgen during the 4th quarter valued at about $1,541,991,000. GAMMA Investing LLC lifted its holdings in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares during the last quarter. Capital International Investors lifted its holdings 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 purchasing an additional 3,495,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 purchasing an additional 2,672,975 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Down 1.9%

Shares of NASDAQ:AMGN opened at $290.05 on Wednesday. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a 50 day moving average of $281.62 and a 200-day moving average of $285.78. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The stock has a market cap of $155.96 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 2.67 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business’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. On average, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of several analyst reports. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Cantor Fitzgerald initiated coverage on shares of Amgen in a report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price target for the company. UBS Group reissued a “neutral” rating and set a $315.00 price target (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Piper Sandler lowered their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Finally, Bank of America raised their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average price target of $309.22.

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.