EP Wealth Advisors LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

EP Wealth Advisors LLC raised its position in Amgen Inc. (NASDAQ:AMGN) by 11.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,769 shares of the medical research company’s stock after acquiring an additional 2,353 shares during the quarter. EP Wealth Advisors LLC’s holdings in Amgen were worth $6,758,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. purchased a new stake in Amgen during the fourth quarter worth approximately $29,000. United Community Bank purchased a new stake in shares of Amgen during the 4th quarter worth approximately $29,000. Horizon Financial Services LLC acquired a new position in shares of Amgen in the 1st quarter valued at $28,000. Planned Solutions Inc. purchased a new position in shares of Amgen in the 4th quarter valued at $30,000. Finally, Delos Wealth Advisors LLC raised its stake in Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 0.2 %

AMGN stock traded up $0.55 on Friday, hitting $334.85. 1,508,838 shares of the company were exchanged, compared to its average volume of 2,661,121. The stock has a market capitalization of $179.62 billion, a price-to-earnings ratio of 47.76, a price-to-earnings-growth ratio of 2.79 and a beta of 0.58. The business’s fifty day moving average is $313.52 and its two-hundred day moving average is $297.19. Amgen Inc. has a twelve month low of $228.21 and a twelve month high of $346.85. 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 announced its quarterly 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. The company had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.98 earnings per share. As a group, research analysts forecast that Amgen Inc. will post 19.5 earnings per share for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s 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 completion of the transaction, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMGN shares. Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Raymond James began coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. Argus boosted their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Mizuho upped their price objective 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. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $312.63.

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.