Amgen Inc. (NASDAQ:AMGN) Shares Bought by Lane & Associates LLC

Lane & Associates LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,563 shares of the medical research company’s stock after acquiring an additional 64 shares during the quarter. Lane & Associates LLC’s holdings in Amgen were worth $487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC grew its stake in shares of Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock valued at $1,205,000 after buying an additional 34 shares in the last quarter. Continuum Advisory LLC grew its stake in shares of Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after buying an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC grew its stake in shares of Amgen by 1.5% in the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock valued at $759,000 after buying an additional 35 shares in the last quarter. Trillium Asset Management LLC grew its stake in shares of Amgen by 4.2% in the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after buying an additional 37 shares in the last quarter. Finally, Affinity Capital Advisors LLC grew its stake in shares of Amgen by 4.5% in the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’s 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 directly owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.76% of the company’s stock.

Amgen Trading Down 1.7%

NASDAQ:AMGN opened at $295.27 on Friday. The company has a market cap of $158.77 billion, a PE ratio of 26.94, a P/E/G ratio of 2.72 and a beta of 0.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The business’s 50 day moving average is $283.56 and its two-hundred day moving average is $287.97.

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 the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. On average, analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. UBS Group reiterated 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. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target for the company. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $307.82.

About Amgen

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.