Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Oak Harvest Investment Services

Oak Harvest Investment Services lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 19.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,067 shares of the medical research company’s stock after purchasing an additional 6,116 shares during the quarter. Amgen comprises approximately 1.9% of Oak Harvest Investment Services’ portfolio, making the stock its 15th biggest position. Oak Harvest Investment Services’ holdings in Amgen were worth $10,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co increased its stake in shares of Amgen by 76.8% during the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after acquiring an additional 16,376 shares during the period. Provence Wealth Management Group lifted its holdings in shares of Amgen by 11.9% in the 4th quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after buying an additional 154 shares during the period. Kinsale Capital Group Inc. boosted its stake in shares of Amgen by 33.0% in the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after buying an additional 2,814 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings in Amgen by 2.4% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after acquiring an additional 109 shares during the period. Finally, Traynor Capital Management Inc. raised its position in Amgen by 9.5% in the fourth quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock worth $5,455,000 after acquiring an additional 1,650 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of recent analyst reports. TD Cowen lowered their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Truist Financial reiterated a “buy” rating and set a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Argus boosted their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, UBS Group increased their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $307.35.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $1.39 during trading on Thursday, reaching $309.38. The stock had a trading volume of 1,000,711 shares, compared to its average volume of 2,340,821. The firm’s 50 day moving average price is $303.81 and its two-hundred day moving average price is $292.91. Amgen Inc. has a one year low of $218.44 and a one year high of $329.72. The stock has a market cap of $165.96 billion, a PE ratio of 44.20, a P/E/G ratio of 2.81 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same quarter in the previous year, the firm earned $3.98 earnings per share. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, research analysts forecast that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

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.