Golden State Wealth Management LLC Purchases 3,039 Shares of Amgen Inc. (NASDAQ:AMGN)

Golden State Wealth Management LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 165.9% during the first quarter, Holdings Channel reports. The firm owned 4,871 shares of the medical research company’s stock after acquiring an additional 3,039 shares during the period. Golden State Wealth Management LLC’s holdings in Amgen were worth $1,518,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AMGN. Brighton Jones LLC lifted its holdings in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares during the period. IFP Advisors Inc raised its stake in shares of Amgen by 6.2% during the 4th quarter. IFP Advisors Inc now owns 6,102 shares of the medical research company’s stock worth $1,591,000 after purchasing an additional 357 shares during the period. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Amgen by 4.3% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 4,913 shares of the medical research company’s stock worth $1,280,000 after buying an additional 204 shares during the last quarter. FFT Wealth Management LLC boosted its holdings in shares of Amgen by 3.6% in the 4th quarter. FFT Wealth Management LLC now owns 1,402 shares of the medical research company’s stock worth $365,000 after buying an additional 49 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its position in Amgen by 84.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 12,746 shares of the medical research company’s stock valued at $3,322,000 after buying an additional 5,848 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

NASDAQ:AMGN opened at $280.35 on Thursday. The company has a market capitalization of $150.75 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 2.51 and a beta of 0.51. The business has a 50 day moving average of $280.99 and a 200 day moving average of $286.00. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period in the previous year, the business posted $3.96 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on AMGN shares. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Finally, UBS Group reissued a “neutral” rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $309.22.

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.