Heartwood Wealth Advisors LLC Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Heartwood Wealth Advisors LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 18.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 4,561 shares of the medical research company’s stock after acquiring an additional 700 shares during the period. Heartwood Wealth Advisors LLC’s holdings in Amgen were worth $1,421,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMGN. Centricity Wealth Management LLC purchased a new stake in shares of Amgen in the fourth quarter worth about $25,000. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the fourth quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Amgen in the fourth quarter worth about $34,000. Finally, Atala Financial Inc purchased a new stake in shares of Amgen in the fourth quarter worth about $34,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This 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 through the SEC website. 0.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Bank of America boosted their target price on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Cantor Fitzgerald started coverage on Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective on the stock. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research report 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, Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $309.22.

Amgen Trading Down 0.1%

AMGN opened at $289.63 on Thursday. The stock has a market cap of $155.74 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 2.62 and a beta of 0.51. The stock’s 50 day moving average price is $281.59 and its 200-day moving average price is $285.81. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter in the prior year, the firm earned $3.96 earnings per share. Amgen’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

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.