NewSquare Capital LLC Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

NewSquare Capital LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,037 shares of the medical research company’s stock after purchasing an additional 90 shares during the period. NewSquare Capital LLC’s holdings in Amgen were worth $7,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new stake in Amgen during the fourth quarter worth about $270,000. Brighton Jones LLC lifted its position in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Silver Oak Securities Incorporated boosted its position in Amgen by 18.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,691 shares of the medical research company’s stock worth $439,000 after acquiring an additional 268 shares during the period. Strategic Financial Concepts LLC acquired a new position in Amgen during the 4th quarter valued at about $9,313,000. Finally, Apollon Financial LLC raised its holdings in Amgen by 5.4% during the fourth quarter. Apollon Financial LLC now owns 944 shares of the medical research company’s stock worth $246,000 after purchasing an additional 48 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.1%

NASDAQ:AMGN opened at $290.33 on Monday. The stock has a market capitalization of $156.11 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The business’s 50-day simple moving average is $281.57 and its 200-day simple moving average is $285.39. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.96 earnings per share. Sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president now owns 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMGN. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Royal Bank of Canada decreased their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Mizuho upped their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Piper Sandler cut their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Johnson Rice set a $294.00 price target on Amgen in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $309.22.

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.