Premier Path Wealth Partners LLC Raises Position in Amgen Inc. (NASDAQ:AMGN)

Premier Path Wealth Partners LLC increased its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 4,638 shares of the medical research company’s stock after acquiring an additional 205 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Amgen were worth $1,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Amgen by 0.6% in 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 acquiring an additional 339,522 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Amgen by 25.4% in 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 raised its stake in Amgen by 2.9% in 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 raised its stake in Amgen by 40.1% in 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 increased its holdings in shares of Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after buying an additional 6,029,058 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AMGN shares. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Johnson Rice set a $294.00 target price on Amgen in a research note on Wednesday, March 5th. UBS Group reissued a “neutral” rating and issued a $315.00 target price (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Cantor Fitzgerald began coverage on Amgen in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 target price on the stock. Finally, Mizuho increased their price objective on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $309.22.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 sale, the senior vice president now directly owns 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is owned by insiders.

Amgen Stock Down 0.1%

Shares of Amgen stock opened at $289.63 on Thursday. 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 Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock has a market capitalization 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 company’s 50 day moving average price is $281.59 and its 200-day moving average price is $285.81.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.96 EPS. Equities research 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.