Wealthcare Advisory Partners LLC Has $3.62 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Wealthcare Advisory Partners LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,744 shares of the medical research company’s stock after buying an additional 1,198 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Amgen were worth $3,623,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SMI Advisory Services LLC bought a new position in shares of Amgen during the first quarter worth approximately $3,933,000. St. Johns Investment Management Company LLC increased its stake in shares of Amgen by 7.8% during the first quarter. St. Johns Investment Management Company LLC now owns 6,077 shares of the medical research company’s stock worth $1,728,000 after purchasing an additional 439 shares during the period. Visionary Horizons LLC increased its stake in shares of Amgen by 53.2% during the first quarter. Visionary Horizons LLC now owns 3,992 shares of the medical research company’s stock worth $1,067,000 after purchasing an additional 1,387 shares during the period. Key Client Fiduciary Advisors LLC increased its stake in shares of Amgen by 18.0% during the first quarter. Key Client Fiduciary Advisors LLC now owns 1,134 shares of the medical research company’s stock worth $323,000 after purchasing an additional 173 shares during the period. Finally, GoalVest Advisory LLC increased its stake in Amgen by 215.9% during the 1st quarter. GoalVest Advisory LLC now owns 537 shares of the medical research company’s stock worth $153,000 after acquiring an additional 367 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AMGN shares. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. Morgan Stanley raised their price objective on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Truist Financial reiterated a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. UBS Group lifted their price target on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, BMO Capital Markets lifted their price target on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $307.35.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s 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 owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.69% of the stock is owned by company insiders.

Amgen Stock Performance

Shares of AMGN opened at $313.69 on Friday. 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 50 day moving average price of $299.67 and a two-hundred day moving average price of $291.67. The firm has a market capitalization of $168.27 billion, a P/E ratio of 44.81, a P/E/G ratio of 2.88 and a beta of 0.60. Amgen Inc. has a 52 week low of $218.44 and a 52 week high of $329.72.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping 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 the consensus estimate of $7.45 billion. During the same quarter in the previous year, the business earned $3.98 EPS. The company’s revenue was up 22.0% compared to the same quarter last year. Equities analysts forecast that Amgen Inc. will post 19.47 earnings per share 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.