Pacific Heights Asset Management LLC Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Pacific Heights Asset Management LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,000 shares of the medical research company’s stock after buying an additional 1,000 shares during the period. Amgen accounts for approximately 1.2% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 18th biggest holding. Pacific Heights Asset Management LLC’s holdings in Amgen were worth $18,381,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Vanguard Group Inc. boosted its stake in shares of Amgen by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after buying an additional 339,522 shares in the last quarter. Geode Capital Management LLC raised its position in Amgen by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock worth $3,245,881,000 after acquiring an additional 352,143 shares in the last quarter. Capital International Investors lifted its holdings in Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares during the period. Capital World Investors lifted its holdings in Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Amgen by 15.8% during the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company’s stock worth $1,676,183,000 after purchasing an additional 875,254 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.5%

AMGN stock opened at $298.25 on Friday. The company has a 50 day moving average price of $282.12 and a two-hundred day moving average price of $286.57. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market capitalization of $160.37 billion, a P/E ratio of 27.21, a PEG ratio of 2.68 and a beta of 0.49. Amgen Inc. has a one year low of $253.30 and a one 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 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 earnings per share. As a group, sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares of the company’s stock, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMGN. Piper Sandler reiterated an “overweight” rating and issued a $328.00 price target on shares of Amgen in a report on Friday, June 27th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. UBS Group restated a “neutral” rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Royal Bank Of Canada reduced their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average price target of $307.82.

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.