Hemenway Trust Co LLC Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Hemenway Trust Co LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 18.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,259 shares of the medical research company’s stock after buying an additional 197 shares during the quarter. Hemenway Trust Co LLC’s holdings in Amgen were worth $358,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. purchased a new position in Amgen during the fourth quarter worth approximately $29,000. United Community Bank purchased a new position in Amgen during the fourth quarter worth approximately $29,000. Horizon Financial Services LLC purchased a new position in Amgen during the first quarter worth approximately $28,000. Planned Solutions Inc. purchased a new position in Amgen during the fourth quarter worth approximately $30,000. Finally, Delos Wealth Advisors LLC lifted its position in Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen Stock Up 1.1 %

AMGN traded up $3.42 on Thursday, hitting $325.09. 2,253,879 shares of the company were exchanged, compared to its average volume of 2,721,015. Amgen Inc. has a twelve month low of $224.09 and a twelve month high of $329.72. The company has a market cap of $174.39 billion, a price-to-earnings ratio of 46.44, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The firm has a 50-day moving average price of $308.79 and a two-hundred day moving average price of $294.36.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (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 return on equity of 156.21% and a net margin of 12.74%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.98 EPS. On average, equities analysts predict that Amgen Inc. will post 19.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AMGN shares. TD Cowen reduced their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. UBS Group lifted their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. StockNews.com upgraded Amgen from a “hold” rating to a “buy” 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 company an “outperform” rating in a research report on Friday, May 3rd. Finally, William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $307.00.

Amgen 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.