Private Wealth Partners LLC Makes New $258,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Private Wealth Partners LLC bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 829 shares of the medical research company’s stock, valued at approximately $258,000.

A number of other institutional investors also recently made changes to their positions in the business. Beck Mack & Oliver LLC grew its stake in shares of Amgen by 0.7% during the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after acquiring an additional 34 shares during the period. Continuum Advisory LLC raised its position in shares of Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after purchasing an additional 35 shares during the period. Octavia Wealth Advisors LLC lifted its stake in shares of Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock valued at $759,000 after buying an additional 35 shares in the last quarter. Zullo Investment Group Inc. grew its stake in Amgen by 2.8% in the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after buying an additional 37 shares in the last quarter. Finally, Trillium Asset Management LLC raised its holdings in Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after acquiring an additional 37 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of Amgen stock opened at $289.63 on Friday. The stock has a market capitalization of $155.74 billion, a P/E ratio of 26.43, a PEG ratio of 2.62 and a beta of 0.51. The business has a 50 day simple moving average of $281.75 and a two-hundred day simple moving average of $285.89. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $3.96 EPS. As a group, analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on AMGN. Cantor Fitzgerald began coverage on shares of Amgen in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price objective for the company. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Mizuho boosted their price target on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Bank of America lifted their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $309.22.

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.