Angeles Wealth Management LLC Acquires Shares of 737 Amgen Inc. (NASDAQ:AMGN)

Angeles Wealth Management LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 737 shares of the medical research company’s stock, valued at approximately $210,000.

A number of other hedge funds have also made changes to their positions in AMGN. Price T Rowe Associates Inc. MD boosted its holdings in shares of Amgen by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after acquiring an additional 243,720 shares in the last quarter. Royal Bank of Canada boosted its stake in Amgen by 14.8% in the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after purchasing an additional 751,947 shares in the last quarter. Norges Bank bought a new stake in shares of Amgen during the fourth quarter worth $1,556,912,000. California Public Employees Retirement System grew its holdings in shares of Amgen by 22.0% during the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock worth $782,288,000 after purchasing an additional 490,539 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Amgen by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,476,782 shares of the medical research company’s stock valued at $713,367,000 after buying an additional 63,656 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 1.0 %

NASDAQ AMGN traded down $3.26 during trading hours on Thursday, reaching $332.41. 1,332,171 shares of the company’s stock were exchanged, compared to its average volume of 2,687,589. 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 Inc. has a one year low of $228.21 and a one year high of $338.98. The company’s 50-day moving average is $311.02 and its two-hundred day moving average is $295.71. The company has a market capitalization of $178.32 billion, a price-to-earnings ratio of 47.44, a price-to-earnings-growth ratio of 3.01 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the business posted $3.98 earnings per share. On average, analysts forecast that Amgen Inc. will post 19.44 EPS for the current fiscal year.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. TD Cowen decreased their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Argus increased their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Morgan Stanley decreased their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, BMO Capital Markets boosted their target price on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.63.

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.