American National Bank Has $9.09 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

American National Bank lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 54.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,955 shares of the medical research company’s stock after buying an additional 11,297 shares during the quarter. American National Bank’s holdings in Amgen were worth $9,085,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Amgen by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after acquiring an additional 165,636 shares during the period. Northern Trust Corp grew its stake in Amgen by 3.8% during the third quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock worth $1,875,306,000 after purchasing an additional 255,463 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Amgen by 3.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock valued at $1,890,769,000 after purchasing an additional 243,720 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Amgen by 14.8% during the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after buying an additional 751,947 shares during the last quarter. Finally, Norges Bank bought a new position in Amgen in the 4th quarter valued at $1,556,912,000. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several recent research reports. Raymond James initiated coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. Mizuho increased their price objective on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Truist Financial reissued a “buy” rating and issued a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Finally, StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $305.85.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen Price Performance

Amgen stock traded down $1.73 during mid-day trading on Friday, reaching $308.16. The company had a trading volume of 6,597,028 shares, compared to its average volume of 2,777,549. The stock’s 50-day simple moving average is $295.75 and its 200-day simple moving average is $290.30. The company has a market capitalization of $165.31 billion, a P/E ratio of 44.27, a P/E/G ratio of 2.76 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. During the same quarter in the prior year, the company earned $3.98 EPS. Amgen’s revenue was up 22.0% on a year-over-year basis. On average, equities analysts predict that Amgen Inc. will post 19.47 EPS for the current year.

Amgen 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.