Amgen Inc. (NASDAQ:AMGN) Shares Bought by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 1.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,435 shares of the medical research company’s stock after buying an additional 35 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Amgen were worth $759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new stake in shares of Amgen in the 4th quarter worth approximately $270,000. Brighton Jones LLC raised 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 purchasing an additional 5,226 shares in the last quarter. Silver Oak Securities Incorporated lifted its position in Amgen by 18.8% in the fourth quarter. Silver Oak Securities Incorporated now owns 1,691 shares of the medical research company’s stock worth $439,000 after purchasing an additional 268 shares during the period. Strategic Financial Concepts LLC bought a new position in Amgen during the 4th quarter valued at $9,313,000. Finally, Apollon Financial LLC increased its position in shares of Amgen by 5.4% during the 4th quarter. Apollon Financial LLC now owns 944 shares of the medical research company’s stock valued at $246,000 after purchasing an additional 48 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $290.33 on Monday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock has a market cap of $156.11 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The business has a fifty day simple moving average of $281.57 and a 200-day simple moving average of $285.39.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the business earned $3.96 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were 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 of the company’s stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.76% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Mizuho upped their price objective on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Piper Sandler reduced their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Cantor Fitzgerald began coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 target price on the stock. Finally, Bank of America increased their target price on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus target price of $309.22.

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.