Sweeney & Michel LLC Invests $1.56 Million in Amgen Inc. (NASDAQ:AMGN)

Sweeney & Michel LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,020 shares of the medical research company’s stock, valued at approximately $1,563,000. Amgen accounts for approximately 0.7% of Sweeney & Michel LLC’s portfolio, making the stock its 27th largest position.

Several other large investors also recently added to or reduced their stakes in the business. Horizon Financial Services LLC purchased a new stake in Amgen during the first quarter valued at about $28,000. BOK Financial Private Wealth Inc. purchased a new stake in Amgen during the fourth quarter valued at about $29,000. United Community Bank purchased a new stake in Amgen during the fourth quarter valued at about $29,000. Planned Solutions Inc. purchased a new stake in Amgen during the fourth quarter valued at about $30,000. Finally, Delos Wealth Advisors LLC raised its position in Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. 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 report on Thursday, July 11th. UBS Group lifted their price objective on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Argus lifted their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Royal Bank of Canada lifted their price objective on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Finally, William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Ten investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of $312.63.

Amgen Stock Up 0.2 %

NASDAQ AMGN traded up $0.77 during mid-day trading on Tuesday, reaching $333.28. The stock had a trading volume of 1,582,000 shares, compared to its average volume of 2,646,478. Amgen Inc. has a 1 year low of $228.21 and a 1 year high of $346.85. The stock has a market cap of $178.78 billion, a PE ratio of 47.61, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The company has a fifty day moving average price of $314.69 and a 200 day moving average price of $297.64. 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 data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $7.45 billion. During the same period in the previous year, the business earned $3.98 EPS. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, research analysts expect that Amgen Inc. will post 19.5 earnings per share for the current year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.69% of the company’s stock.

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.