Pines Wealth Management LLC Has $1.55 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Pines Wealth Management LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,966 shares of the medical research company’s stock after acquiring an additional 191 shares during the period. Pines Wealth Management LLC’s holdings in Amgen were worth $1,547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital World Investors raised its stake in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares during the last quarter. Norges Bank bought a new position in shares of Amgen during the 4th quarter worth about $1,541,991,000. GAMMA Investing LLC raised its position in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock valued at $1,140,768,000 after buying an additional 3,653,205 shares during the last quarter. Capital International Investors lifted its stake in shares of 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 buying an additional 3,495,503 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after buying an additional 2,672,975 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMGN shares. Mizuho boosted their price target on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Johnson Rice set a $294.00 price target on shares of Amgen in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Two research 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 company. According to data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average target price of $309.22.

Insider Activity

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 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. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.76% of the stock is owned by insiders.

Amgen Price Performance

Amgen stock opened at $290.33 on Friday. The business’s fifty day moving average is $281.57 and its two-hundred day moving average is $285.44. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market cap of $156.11 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results 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. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.96 EPS. Equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

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.