Naviter Wealth LLC Acquires 1,271 Shares of Amgen Inc. (NASDAQ:AMGN)

Naviter Wealth LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 34.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,950 shares of the medical research company’s stock after purchasing an additional 1,271 shares during the quarter. Naviter Wealth LLC’s holdings in Amgen were worth $1,407,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BOK Financial Private Wealth Inc. acquired a new position in Amgen during the 4th quarter worth $29,000. United Community Bank bought a new stake in Amgen during the 4th quarter worth about $29,000. Planned Solutions Inc. acquired a new position in Amgen during the 4th quarter valued at about $30,000. Delos Wealth Advisors LLC boosted its stake in shares of Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. grew its position in shares of Amgen by 56.9% during the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after buying an additional 41 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. TD Cowen dropped their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Argus increased their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Mizuho increased their target price on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $307.35.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $310.77 on Wednesday. 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 $302.34 and a 200 day moving average price of $292.55. The stock has a market capitalization of $166.71 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58. Amgen Inc. has a 52 week low of $218.44 and a 52 week high of $329.72.

Amgen (NASDAQ:AMGN) last issued 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. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.98 earnings per share. Analysts predict that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is owned by insiders.

Amgen 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.