Financial Sense Advisors Inc. Has $3.31 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Financial Sense Advisors Inc. reduced its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,640 shares of the medical research company’s stock after selling 88 shares during the quarter. Amgen makes up approximately 1.1% of Financial Sense Advisors Inc.’s holdings, making the stock its 21st largest holding. Financial Sense Advisors Inc.’s holdings in Amgen were worth $3,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. DMC Group LLC boosted its holdings in shares of Amgen by 7.0% in the 1st quarter. DMC Group LLC now owns 3,627 shares of the medical research company’s stock worth $1,031,000 after acquiring an additional 236 shares in the last quarter. Abundance Wealth Counselors raised its position in Amgen by 2.6% in the 1st quarter. Abundance Wealth Counselors now owns 9,194 shares of the medical research company’s stock worth $2,614,000 after purchasing an additional 229 shares during the last quarter. Norden Group LLC raised its position in Amgen by 3,179.0% in the 1st quarter. Norden Group LLC now owns 237,006 shares of the medical research company’s stock worth $67,385,000 after purchasing an additional 229,778 shares during the last quarter. Bourgeon Capital Management LLC raised its position in Amgen by 27.6% in the 1st quarter. Bourgeon Capital Management LLC now owns 53,936 shares of the medical research company’s stock worth $15,335,000 after purchasing an additional 11,678 shares during the last quarter. Finally, Wallington Asset Management LLC raised its position in Amgen by 0.3% in the 1st quarter. Wallington Asset Management LLC now owns 40,054 shares of the medical research company’s stock worth $11,388,000 after purchasing an additional 110 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. Royal Bank of Canada upped their target price on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. 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 report on Friday, May 3rd. TD Cowen dropped their target price 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. Finally, Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.35.

Amgen Trading Down 0.4 %

Amgen stock opened at $309.38 on Thursday. 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 firm has a 50-day moving average of $303.09 and a 200-day moving average of $292.80. The company has a market cap of $165.96 billion, a price-to-earnings ratio of 44.20, a P/E/G ratio of 2.81 and a beta of 0.58. Amgen Inc. has a one year low of $218.44 and a one year high of $329.72.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion for 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 period in the prior year, the firm earned $3.98 EPS. On average, equities analysts expect that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.69% of the company’s stock.

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.