Wolff Wiese Magana LLC Has $2.47 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Wolff Wiese Magana LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 12.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,672 shares of the medical research company’s stock after selling 1,246 shares during the quarter. Amgen accounts for approximately 2.1% of Wolff Wiese Magana LLC’s investment portfolio, making the stock its 10th largest holding. Wolff Wiese Magana LLC’s holdings in Amgen were worth $2,466,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. BOK Financial Private Wealth Inc. purchased a new position in shares of Amgen during the fourth quarter valued at $29,000. United Community Bank purchased a new position in shares of Amgen during the fourth quarter valued at $29,000. Planned Solutions Inc. purchased a new position in shares of Amgen during the fourth quarter valued at $30,000. Delos Wealth Advisors LLC increased its stake in shares of Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares during the period. Finally, Hartford Financial Management Inc. increased its stake in shares of Amgen by 56.9% during the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after buying an additional 41 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’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 completion of the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank of Canada raised their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. BMO Capital Markets lifted their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Finally, Argus lifted their target price on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $307.35.

Amgen Stock Performance

Shares of Amgen stock traded down $0.79 on Monday, reaching $311.66. 577,023 shares of the stock were exchanged, compared to its average volume of 2,773,315. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a twelve month low of $218.44 and a twelve month high of $329.72. The firm has a market capitalization of $167.18 billion, a price-to-earnings ratio of 44.64, a PEG ratio of 2.82 and a beta of 0.58. The business has a 50 day moving average price of $301.56 and a two-hundred day moving average price of $292.30.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS 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 during the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the previous year, the company posted $3.98 earnings per share. The company’s revenue was up 22.0% compared to the same quarter last year. Analysts anticipate 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.