Alera Investment Advisors LLC Invests $227,000 in Amgen Inc. (NASDAQ:AMGN)

Alera Investment Advisors LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 800 shares of the medical research company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Cornerstone Advisors LLC boosted its holdings in Amgen by 1.3% during the 1st quarter. Cornerstone Advisors LLC now owns 23,100 shares of the medical research company’s stock valued at $6,568,000 after acquiring an additional 300 shares during the period. Spirepoint Private Client LLC purchased a new stake in Amgen during the 1st quarter valued at about $1,110,000. Intech Investment Management LLC boosted its holdings in Amgen by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 35,673 shares of the medical research company’s stock valued at $10,143,000 after acquiring an additional 5,668 shares during the period. Councilmark Asset Management LLC purchased a new stake in Amgen during the 1st quarter valued at about $2,891,000. Finally, Pinkerton Retirement Specialists LLC boosted its holdings in Amgen by 30.1% during the 1st quarter. Pinkerton Retirement Specialists LLC now owns 12,708 shares of the medical research company’s stock valued at $3,613,000 after acquiring an additional 2,943 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Amgen Stock Up 0.1 %

Shares of Amgen stock traded up $0.32 during midday trading on Friday, hitting $331.29. The company had a trading volume of 1,848,897 shares, compared to its average volume of 2,256,279. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The stock has a market capitalization of $177.71 billion, a P/E ratio of 47.33, a P/E/G ratio of 3.00 and a beta of 0.58. The company has a 50 day moving average of $311.81 and a 200 day moving average of $296.25. Amgen Inc. has a 52-week low of $228.21 and a 52-week high of $338.98.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same period last year, the business posted $3.98 EPS. The company’s revenue was up 22.0% compared to the same quarter last year. On average, equities analysts predict that Amgen Inc. will post 19.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. BMO Capital Markets increased their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $230.00 to $300.00 in a research report on Friday, May 3rd. Argus upped their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Truist Financial reaffirmed a “buy” rating and set a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen has a consensus rating of “Moderate Buy” and an average target price of $312.63.

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.