Congress Asset Management Co. MA Has $15.38 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Congress Asset Management Co. MA reduced its position in Amgen Inc. (NASDAQ:AMGNFree Report) by 3.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 54,093 shares of the medical research company’s stock after selling 2,191 shares during the period. Congress Asset Management Co. MA’s holdings in Amgen were worth $15,380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMGN. BIP Wealth LLC lifted its position in Amgen by 2.6% during the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after purchasing an additional 32 shares during the period. Southland Equity Partners LLC grew its holdings in Amgen by 2.3% during the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after acquiring an additional 34 shares during the period. Acropolis Investment Management LLC raised its position in shares of Amgen by 3.5% during the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after acquiring an additional 34 shares during the last quarter. Opal Wealth Advisors LLC lifted its stake in shares of Amgen by 1.9% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after purchasing an additional 34 shares during the period. Finally, Marino Stram & Associates LLC lifted its stake in shares of Amgen by 0.7% in the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after purchasing an additional 34 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMGN shares. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Mizuho increased their price target on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Royal Bank of Canada lifted their price objective on shares of Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. TD Cowen lowered their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, UBS Group lifted their price target on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $305.85.

Read Our Latest Research Report on AMGN

Amgen Price Performance

NASDAQ AMGN opened at $308.16 on Friday. Amgen Inc. has a 12-month low of $218.44 and a 12-month high of $329.72. The firm’s 50 day moving average is $296.57 and its 200-day moving average is $290.69. The company has a market capitalization of $165.31 billion, a PE ratio of 44.02, a price-to-earnings-growth ratio of 2.80 and a beta of 0.60. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGNGet Free Report) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. Amgen’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.98 earnings per share. Equities research analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.69% of the stock is currently owned by corporate insiders.

About Amgen

(Free Report)

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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