MBA Advisors LLC Has $959,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

MBA Advisors LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,079 shares of the medical research company’s stock after buying an additional 170 shares during the quarter. MBA Advisors LLC’s holdings in Amgen were worth $959,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. KPP Advisory Services LLC grew its stake in shares of Amgen by 87.1% in the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after buying an additional 2,716 shares in the last quarter. Advisor Resource Council acquired a new stake in Amgen in the first quarter valued at approximately $1,331,000. DLK Investment Management LLC lifted its stake in Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after acquiring an additional 1,387 shares during the last quarter. Aire Advisors LLC grew its position in Amgen by 26.3% in the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock worth $3,461,000 after acquiring an additional 2,762 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of Amgen during the 4th quarter worth $3,531,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMGN. Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Mizuho raised their target price on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Piper Sandler reiterated an “overweight” rating and set a $328.00 price target on shares of Amgen in a research note on Friday, June 27th. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada reduced their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Two 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 stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus price target of $307.82.

Amgen Price Performance

Shares of Amgen stock opened at $298.25 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The company has a market cap of $160.37 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49. The firm has a fifty day moving average price of $282.12 and a two-hundred day moving average price of $286.57. 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 the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter last year, the company earned $3.96 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. Analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was 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 directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.76% of the company’s stock.

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.