Braun Stacey Associates Inc. Has $13.01 Million Position in Amgen Inc. (NASDAQ:AMGN)

Braun Stacey Associates Inc. cut its position in Amgen Inc. (NASDAQ:AMGN) by 0.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,753 shares of the medical research company’s stock after selling 141 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Amgen were worth $13,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinney & Scofield Inc. acquired a new position in Amgen during the 4th quarter worth approximately $26,000. First Pacific Financial increased its position in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after purchasing an additional 67 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its position in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Atala Financial Inc acquired a new position in Amgen during the 4th quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new position in Amgen during the 4th quarter worth approximately $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Mizuho upped 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. Guggenheim started coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target for the company. Piper Sandler restated an “overweight” rating and issued a $328.00 price target on shares of Amgen in a research report on Friday, June 27th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus target price of $307.82.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is owned by corporate insiders.

Amgen Trading Up 0.5%

NASDAQ:AMGN opened at $298.25 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The stock has a market capitalization of $160.37 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 2.70 and a beta of 0.49. The firm has a fifty day simple moving average of $282.47 and a two-hundred day simple moving average of $286.79. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations 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 earned $3.96 earnings per share. Analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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.