Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,858 shares of the medical research company’s stock after acquiring an additional 45 shares during the period. Spinnaker Investment Group LLC’s holdings in Amgen were worth $813,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several recent research reports. UBS Group upped their price target on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Mizuho upped their price target on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. TD Cowen lowered their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. 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. Finally, William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average target price of $307.35.

Amgen Stock Down 0.4 %

Shares of AMGN stock traded down $1.39 during trading on Thursday, hitting $309.38. 1,000,711 shares of the company were exchanged, compared to its average volume of 2,340,821. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The firm has a market capitalization of $165.96 billion, a price-to-earnings ratio of 44.20, a P/E/G ratio of 2.81 and a beta of 0.58. The business’s 50-day simple moving average is $303.81 and its 200 day simple moving average is $292.91. Amgen Inc. has a twelve month low of $218.44 and a twelve month high of $329.72.

Amgen (NASDAQ:AMGN) last posted 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 during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company posted $3.98 earnings per share. As a group, analysts forecast that Amgen Inc. will post 19.47 EPS for the current fiscal year.

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.