Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Red Door Wealth Management LLC

Red Door Wealth Management LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,029 shares of the medical research company’s stock after purchasing an additional 920 shares during the period. Amgen accounts for about 1.4% of Red Door Wealth Management LLC’s holdings, making the stock its 23rd biggest position. Red Door Wealth Management LLC’s holdings in Amgen were worth $7,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Amgen in the 4th quarter worth approximately $1,556,912,000. International Assets Investment Management LLC purchased a new stake in shares of Amgen during the 4th quarter valued at $4,589,900,000. Royal Bank of Canada grew its stake in shares of Amgen by 14.8% during the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after buying an additional 751,947 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Amgen by 486.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after buying an additional 745,929 shares during the period. Finally, abrdn plc grew its stake in shares of Amgen by 150.4% during the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after buying an additional 626,810 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMGN has been the subject of several research reports. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Mizuho boosted their price objective on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Truist Financial reissued a “buy” rating and set a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. Morgan Stanley boosted their price objective on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada upped their price target on shares of Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $307.35.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were 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 in the company, valued at approximately $3,094,268.47. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.69% of the company’s stock.

Amgen Stock Down 0.4 %

AMGN stock traded down $1.24 during trading on Friday, reaching $312.45. The stock had a trading volume of 3,518,174 shares, compared to its average volume of 2,437,626. The company has a market capitalization of $167.61 billion, a P/E ratio of 44.64, a PEG ratio of 2.82 and a beta of 0.60. The firm has a fifty day moving average price of $301.56 and a 200 day moving average price of $292.23. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 1-year low of $218.44 and a 1-year high of $329.72.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating 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 company’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 EPS. On average, equities analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current year.

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.