Symphony Financial Ltd. Co. Acquires 277 Shares of Amgen Inc. (NASDAQ:AMGN)

Symphony Financial Ltd. Co. boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,260 shares of the medical research company’s stock after purchasing an additional 277 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Amgen were worth $2,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BIP Wealth LLC raised its stake in Amgen by 2.6% in the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after buying an additional 32 shares in the last quarter. Southland Equity Partners LLC increased its position in shares of Amgen by 2.3% during the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after purchasing an additional 34 shares in the last quarter. Acropolis Investment Management LLC increased its position in shares of Amgen by 3.5% during the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after purchasing an additional 34 shares in the last quarter. Opal Wealth Advisors LLC increased its position in shares of Amgen by 1.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after purchasing an additional 34 shares in the last quarter. Finally, Marino Stram & Associates LLC increased its position in shares of Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN traded down $1.24 during trading on Friday, hitting $312.45. 3,518,174 shares of the stock were exchanged, compared to its average volume of 2,437,626. The company has a fifty day moving average price of $301.56 and a two-hundred day moving average price of $292.23. The company has a market cap of $167.61 billion, a PE ratio of 44.64, a P/E/G ratio of 2.82 and a beta of 0.60. 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 12-month low of $218.44 and a 12-month high of $329.72.

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 business had revenue of $7.45 billion for 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 company’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.98 EPS. On average, analysts forecast that Amgen Inc. will post 19.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AMGN shares. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. BMO Capital Markets lifted their target price on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Argus lifted their target price on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley raised their price target on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada raised their price target on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.35.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’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 transaction, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by insiders.

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.