44 Wealth Management LLC Has $373,000 Position in Amgen Inc. (NASDAQ:AMGN)

44 Wealth Management LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 28.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,197 shares of the medical research company’s stock after buying an additional 262 shares during the quarter. 44 Wealth Management LLC’s holdings in Amgen were worth $373,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AMGN. Pinney & Scofield Inc. acquired a new position in Amgen in the 4th quarter valued at $26,000. First Pacific Financial lifted its holdings in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after buying an additional 67 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 51 shares during the period. Atala Financial Inc acquired a new position in shares of Amgen in the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Amgen in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Up 0.5%

Shares of NASDAQ:AMGN opened at $298.25 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a market capitalization of $160.37 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.70 and a beta of 0.49. 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 company has a fifty day moving average of $282.47 and a 200-day moving average of $286.79.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.96 EPS. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’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 owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMGN. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. UBS Group reissued a “neutral” rating and set a $315.00 price target (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Mizuho increased their target price on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $307.82.

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.