Bank of Stockton Buys 75 Shares of Amgen Inc. (NASDAQ:AMGN)

Bank of Stockton grew its stake in Amgen Inc. (NASDAQ:AMGN) by 7.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,139 shares of the medical research company’s stock after purchasing an additional 75 shares during the period. Bank of Stockton’s holdings in Amgen were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

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

Shares of NASDAQ:AMGN opened at $280.35 on Thursday. The company has a market capitalization of $150.75 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 2.51 and a beta of 0.51. The company’s 50-day moving average is $280.99 and its 200 day moving average is $286.00. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the previous year, the company earned $3.96 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent research reports. UBS Group restated a “neutral” rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Guggenheim initiated coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective on the stock. Piper Sandler lowered their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday. Finally, Mizuho boosted their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average target price 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.