Capital Asset Advisory Services LLC Has $475,000 Position in Amgen Inc. (NASDAQ:AMGN)

Capital Asset Advisory Services LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 18.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,759 shares of the medical research company’s stock after purchasing an additional 277 shares during the period. Capital Asset Advisory Services LLC’s holdings in Amgen were worth $475,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. BOK Financial Private Wealth Inc. bought a new stake in shares of Amgen during the fourth quarter worth $29,000. United Community Bank bought a new stake in shares of Amgen during the fourth quarter worth about $29,000. Planned Solutions Inc. bought a new stake in shares of Amgen during the fourth quarter worth about $30,000. Delos Wealth Advisors LLC increased its stake in shares of Amgen by 2,500.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares during the period. Finally, Hartford Financial Management Inc. raised its holdings in Amgen by 56.9% in the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial reissued a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Royal Bank of Canada increased their target price on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Mizuho boosted their price target on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Raymond James began coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Finally, BMO Capital Markets increased their price target on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $307.35.

Amgen Stock Performance

NASDAQ AMGN traded down $1.24 during trading on Friday, hitting $312.45. 3,518,173 shares of the company’s stock traded hands, compared to its average volume of 2,791,304. The business has a 50 day moving average of $301.56 and a 200-day moving average of $292.10. The stock has a market capitalization of $167.61 billion, a price-to-earnings ratio of 44.64, a PEG ratio of 2.83 and a beta of 0.60. Amgen Inc. has a 12-month low of $218.44 and a 12-month high of $329.72. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter in the previous year, the company earned $3.98 earnings per share. Amgen’s revenue for the quarter was up 22.0% on a year-over-year basis. As a group, equities research analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current fiscal 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.