New Covenant Trust Company N.A. Purchases New Position in Amgen Inc. (NASDAQ:AMGN)

New Covenant Trust Company N.A. bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 534 shares of the medical research company’s stock, valued at approximately $152,000.

Other hedge funds have also recently made changes to their positions in the company. BIP Wealth LLC grew its holdings in Amgen by 2.6% during the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after purchasing an additional 32 shares during the last quarter. RFP Financial Group LLC grew its holdings in Amgen by 17.1% during the first quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 32 shares during the last quarter. Marino Stram & Associates LLC grew its holdings in Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after purchasing an additional 34 shares during the last quarter. NTV Asset Management LLC grew its holdings in Amgen by 0.3% during the first quarter. NTV Asset Management LLC now owns 10,961 shares of the medical research company’s stock valued at $3,116,000 after purchasing an additional 34 shares during the last quarter. Finally, Texas Yale Capital Corp. grew its holdings in Amgen by 0.3% during the first quarter. Texas Yale Capital Corp. now owns 10,097 shares of the medical research company’s stock valued at $2,871,000 after purchasing an additional 34 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction that occurred on Friday, May 3rd. The stock was 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 $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AMGN. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. TD Cowen decreased 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. BMO Capital Markets lifted their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Morgan Stanley decreased their price target on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Finally, UBS Group lifted their price target on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research note 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 company. According to data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average target price of $312.63.

Amgen Stock Performance

Amgen stock traded up $3.06 during mid-day trading on Thursday, hitting $335.53. 2,383,918 shares of the company’s stock traded hands, compared to its average volume of 2,641,120. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. Amgen Inc. has a fifty-two week low of $228.21 and a fifty-two week high of $346.85. The stock has a market cap of $179.99 billion, a price-to-earnings ratio of 47.93, a P/E/G ratio of 2.77 and a beta of 0.58. The firm has a 50 day simple moving average of $315.73 and a two-hundred day simple moving average of $298.14.

Amgen (NASDAQ:AMGN) last released 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. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter in the previous year, the business posted $3.98 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, research analysts expect that Amgen Inc. will post 19.5 EPS 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.