Hoey Investments Inc. Has $2.20 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Hoey Investments Inc. lifted its position in Amgen Inc. (NASDAQ:AMGN) by 31.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,047 shares of the medical research company’s stock after buying an additional 1,698 shares during the period. Amgen comprises 0.4% of Hoey Investments Inc.’s holdings, making the stock its 19th largest position. Hoey Investments Inc.’s holdings in Amgen were worth $2,195,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMGN. Centricity Wealth Management LLC bought a new stake in shares of Amgen in the 4th quarter valued at $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen in the 4th quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE increased its position in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after buying an additional 51 shares in the last quarter. Synergy Investment Management LLC bought a new stake in shares of Amgen in the 4th quarter valued at $34,000. Finally, Atala Financial Inc bought a new stake in shares of Amgen in the 4th quarter valued at $34,000. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.7%

Shares of NASDAQ:AMGN opened at $295.22 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a market capitalization of $158.74 billion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a 50-day simple moving average of $281.33 and a 200 day simple moving average of $285.58. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on AMGN shares. Mizuho upped their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Cantor Fitzgerald started coverage on Amgen in a report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 target price for the company. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Johnson Rice set a $294.00 target price on Amgen in a report on Wednesday, March 5th. Finally, Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price of $309.22.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by company insiders.

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.