Amgen Inc. (NASDAQ:AMGN) Position Decreased by SteelPeak Wealth LLC

SteelPeak Wealth LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 31.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,897 shares of the medical research company’s stock after selling 33,301 shares during the period. Amgen comprises 1.0% of SteelPeak Wealth LLC’s holdings, making the stock its 24th biggest holding. SteelPeak Wealth LLC’s holdings in Amgen were worth $20,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Diversified Trust Co grew its holdings in shares of Amgen by 76.8% during the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after buying an additional 16,376 shares in the last quarter. Provence Wealth Management Group lifted its position in shares of Amgen by 11.9% in the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock worth $416,000 after purchasing an additional 154 shares in the last quarter. Kinsale Capital Group Inc. boosted its holdings in shares of Amgen by 33.0% during the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after purchasing an additional 2,814 shares during the period. Global Wealth Management Investment Advisory Inc. increased its stake in Amgen by 2.4% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock valued at $1,363,000 after buying an additional 109 shares during the period. Finally, Traynor Capital Management Inc. increased its stake in Amgen by 9.5% in the 4th quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock valued at $5,455,000 after buying an additional 1,650 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $1.24 during trading hours on Friday, reaching $312.45. The stock had a trading volume of 3,518,174 shares, compared to its average volume of 2,437,626. The company has a market cap of $167.61 billion, a price-to-earnings ratio of 44.64, a PEG ratio of 2.82 and a beta of 0.60. Amgen Inc. has a twelve month low of $218.44 and a twelve month high of $329.72. The business’s fifty day moving average is $301.56 and its two-hundred day moving average is $292.30. 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 (NASDAQ:AMGN) last posted its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter last year, the company earned $3.98 EPS. Amgen’s revenue was up 22.0% on a year-over-year basis. As a group, research analysts expect that Amgen Inc. will post 19.47 EPS for the current year.

Insider Transactions at Amgen

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

Wall Street Analyst Weigh In

AMGN has been the topic of several research analyst reports. Argus boosted their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada boosted their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Raymond James started coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Finally, UBS Group raised their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $307.35.

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.