Saxon Interests Inc. Has $538,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Saxon Interests Inc. raised its position in Amgen Inc. (NASDAQ:AMGN) by 14.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,893 shares of the medical research company’s stock after purchasing an additional 241 shares during the quarter. Saxon Interests Inc.’s holdings in Amgen were worth $538,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Amgen by 0.3% during the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after buying an additional 165,636 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Amgen by 3.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after buying an additional 243,720 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Amgen by 14.8% during the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after buying an additional 751,947 shares during the last quarter. Norges Bank bought a new stake in shares of Amgen during the fourth quarter worth approximately $1,556,912,000. Finally, California Public Employees Retirement System raised its stake in shares of Amgen by 22.0% during the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock worth $782,288,000 after buying an additional 490,539 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMGN has been the subject of several recent analyst reports. UBS Group upped their target price on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Truist Financial reissued a “buy” rating and set a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. TD Cowen lowered their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Raymond James initiated coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. Finally, Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.35.

Amgen Stock Performance

AMGN stock traded down $0.24 during trading hours on Tuesday, reaching $310.77. The stock had a trading volume of 1,542,747 shares, compared to its average volume of 2,773,284. The stock has a market capitalization of $166.71 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The stock has a 50-day simple moving average of $302.34 and a 200 day simple moving average of $292.55. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week high of $329.72.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. Amgen’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.98 EPS. Analysts predict that Amgen Inc. will post 19.47 EPS for the current fiscal year.

About Amgen

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.