Fifth Third Wealth Advisors LLC Has $648,000 Stock Position in Amgen Inc. (NASDAQ:AMGN)

Fifth Third Wealth Advisors LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 147.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,280 shares of the medical research company’s stock after buying an additional 1,357 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Amgen were worth $648,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new stake in Amgen in the fourth quarter valued at about $29,000. United Community Bank acquired a new stake in Amgen in the fourth quarter valued at about $29,000. Planned Solutions Inc. acquired a new stake in Amgen in the fourth quarter valued at about $30,000. Delos Wealth Advisors LLC boosted its stake in Amgen by 2,500.0% in 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 in the last quarter. Finally, Hartford Financial Management Inc. boosted its stake in Amgen by 56.9% in 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 in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Trading Up 0.3 %

AMGN stock traded up $0.87 during mid-day trading on Thursday, reaching $313.69. The company’s stock had a trading volume of 2,081,437 shares, compared to its average volume of 2,785,389. The company has a market cap of $168.27 billion, a price-to-earnings ratio of 44.81, a price-to-earnings-growth ratio of 2.88 and a beta of 0.60. The business’s 50 day moving average price is $299.67 and its 200 day moving average price is $291.67. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 12 month low of $218.44 and a 12 month 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 during the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. 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 posted $3.98 earnings per share. On average, equities research analysts predict that Amgen Inc. will post 19.47 EPS for the current year.

Insider Buying and Selling at Amgen

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

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research reports. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $230.00 to $300.00 in a research report on Friday, May 3rd. BMO Capital Markets increased their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Morgan Stanley increased their target price on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Argus increased their target price on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $307.35.

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.