Plimoth Trust Co. LLC Has $1.39 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Plimoth Trust Co. LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 23.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,878 shares of the medical research company’s stock after purchasing an additional 919 shares during the period. Plimoth Trust Co. LLC’s holdings in Amgen were worth $1,387,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Silverlake Wealth Management LLC lifted its position in shares of Amgen by 0.8% in the first quarter. Silverlake Wealth Management LLC now owns 4,999 shares of the medical research company’s stock worth $1,421,000 after buying an additional 39 shares during the last quarter. Saxon Interests Inc. lifted its holdings in Amgen by 14.6% in the 1st quarter. Saxon Interests Inc. now owns 1,893 shares of the medical research company’s stock worth $538,000 after purchasing an additional 241 shares during the last quarter. Naviter Wealth LLC boosted its position in Amgen by 34.5% during the first quarter. Naviter Wealth LLC now owns 4,950 shares of the medical research company’s stock worth $1,407,000 after purchasing an additional 1,271 shares during the period. West Oak Capital LLC boosted its position in Amgen by 0.7% during the first quarter. West Oak Capital LLC now owns 8,536 shares of the medical research company’s stock worth $2,427,000 after purchasing an additional 59 shares during the period. Finally, MV Capital Management Inc. grew its holdings in Amgen by 2.3% during the first quarter. MV Capital Management Inc. now owns 7,965 shares of the medical research company’s stock valued at $2,265,000 after purchasing an additional 180 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s 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 directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Truist Financial reaffirmed a “buy” rating and issued a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. UBS Group increased their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Morgan Stanley raised their target price on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada upped their price target on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $307.35.

Amgen Trading Down 0.1 %

Shares of AMGN opened at $310.77 on Wednesday. The stock’s fifty day simple moving average is $302.34 and its 200-day simple moving average is $292.55. The firm 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 12-month low of $218.44 and a 12-month high of $329.72. 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 (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $7.45 billion. During the same period in the previous year, the business posted $3.98 EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, research analysts predict that Amgen Inc. will post 19.47 earnings per share for the current 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.