AIA Group Ltd Takes $612,000 Position in Amgen Inc. (NASDAQ:AMGN)

AIA Group Ltd purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,153 shares of the medical research company’s stock, valued at approximately $612,000.

Other institutional investors have also recently made changes to their positions in the company. Diversified Trust Co lifted its stake in shares of Amgen by 76.8% in the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after purchasing an additional 16,376 shares during the period. Provence Wealth Management Group lifted its stake in shares of Amgen by 11.9% in the 4th quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock worth $416,000 after purchasing an additional 154 shares during the period. Kinsale Capital Group Inc. lifted its stake in shares of Amgen by 33.0% in the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after purchasing an additional 2,814 shares during the period. Global Wealth Management Investment Advisory Inc. raised its stake in Amgen by 2.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after acquiring an additional 109 shares during the period. Finally, Traynor Capital Management Inc. raised its stake in Amgen by 9.5% during the 4th quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock worth $5,455,000 after acquiring an additional 1,650 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction on Friday, May 3rd. The shares were 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 $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMGN shares. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. UBS Group raised their target price on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $307.00.

Amgen Price Performance

Shares of AMGN stock traded up $5.74 on Friday, reaching $330.83. The company’s stock had a trading volume of 2,191,011 shares, compared to its average volume of 2,717,037. 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 stock’s fifty day simple moving average is $309.18 and its 200-day simple moving average is $294.69. The company has a market capitalization of $177.47 billion, a price-to-earnings ratio of 47.26, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58. Amgen Inc. has a 1 year low of $224.34 and a 1 year high of $333.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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 company had revenue of $7.45 billion during 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%. Amgen’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.98 earnings per share. Analysts forecast that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

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.