EQ Wealth Advisors LLC Makes New $218,000 Investment in Amgen Inc. (NASDAQ:AMGN)

EQ Wealth Advisors LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the first quarter, HoldingsChannel.com reports. The fund acquired 700 shares of the medical research company’s stock, valued at approximately $218,000.

A number of other hedge funds have also made changes to their positions in AMGN. Tallon Kerry Patrick acquired a new stake in Amgen in the 4th quarter valued at approximately $270,000. Brighton Jones LLC grew its holdings in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Amgen in the 4th quarter valued at approximately $25,000. Redmond Asset Management LLC acquired a new stake in Amgen in the 4th quarter valued at approximately $581,000. Finally, Fisher Funds Management LTD acquired a new stake in Amgen in the 4th quarter valued at approximately $8,645,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other 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 transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley reaffirmed 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 report on Wednesday, March 5th. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Bank of America raised their price objective on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Finally, Mizuho raised their price objective on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $309.22.

Amgen Trading Down 0.1%

AMGN opened at $289.33 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The stock has a market capitalization of $155.58 billion, a PE ratio of 26.40, a PEG ratio of 2.62 and a beta of 0.51. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a 50-day moving average price of $281.82 and a two-hundred day moving average price of $286.10.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.96 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal 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.