Adell Harriman & Carpenter Inc. Increases Position in Amgen Inc. (NASDAQ:AMGN)

Adell Harriman & Carpenter Inc. boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 17.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,178 shares of the medical research company’s stock after purchasing an additional 2,890 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Amgen were worth $5,975,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Concurrent Investment Advisors LLC grew its holdings in Amgen by 10.1% in the first quarter. Concurrent Investment Advisors LLC now owns 21,480 shares of the medical research company’s stock worth $6,692,000 after purchasing an additional 1,978 shares during the period. HM Payson & Co. grew its holdings in shares of Amgen by 5.6% during the first quarter. HM Payson & Co. now owns 218,010 shares of the medical research company’s stock valued at $67,921,000 after buying an additional 11,611 shares during the last quarter. World Investment Advisors grew its holdings in shares of Amgen by 1.2% during the first quarter. World Investment Advisors now owns 16,959 shares of the medical research company’s stock valued at $5,284,000 after buying an additional 193 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Amgen during the first quarter valued at approximately $219,000. Finally, Capital Investment Advisory Services LLC grew its holdings in shares of Amgen by 4.9% during the first quarter. Capital Investment Advisory Services LLC now owns 10,515 shares of the medical research company’s stock valued at $3,276,000 after buying an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.5%

Shares of Amgen stock opened at $298.25 on Friday. The company’s fifty day simple moving average is $282.47 and its 200-day simple moving average is $286.79. The stock has a market capitalization of $160.37 billion, a PE ratio of 27.21, a P/E/G ratio of 2.70 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share 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 analysts’ expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.96 EPS. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMGN shares. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Mizuho increased their price target on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Piper Sandler reiterated an “overweight” rating and set a $328.00 price target on shares of Amgen in a report on Friday, June 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of “Hold” and a consensus target price 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.