Thrive Wealth Management LLC Acquires 436 Shares of Amgen Inc. (NASDAQ:AMGN)

Thrive Wealth Management LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 18.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,772 shares of the medical research company’s stock after buying an additional 436 shares during the period. Thrive Wealth Management LLC’s holdings in Amgen were worth $788,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Chesley Taft & Associates LLC raised its stake in shares of Amgen by 3.2% during the 1st quarter. Chesley Taft & Associates LLC now owns 18,965 shares of the medical research company’s stock valued at $5,392,000 after purchasing an additional 586 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Amgen by 6.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 326,866 shares of the medical research company’s stock valued at $92,935,000 after purchasing an additional 19,029 shares during the period. Procyon Advisors LLC raised its stake in shares of Amgen by 0.8% during the 1st quarter. Procyon Advisors LLC now owns 11,243 shares of the medical research company’s stock valued at $3,197,000 after purchasing an additional 87 shares during the period. Franklin Street Advisors Inc. NC raised its stake in shares of Amgen by 10.2% during the 1st quarter. Franklin Street Advisors Inc. NC now owns 51,910 shares of the medical research company’s stock valued at $14,759,000 after purchasing an additional 4,826 shares during the period. Finally, Exeter Financial LLC raised its stake in shares of Amgen by 0.7% during the 1st quarter. Exeter Financial LLC now owns 12,079 shares of the medical research company’s stock valued at $3,238,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN traded down $0.21 during mid-day trading on Friday, reaching $313.48. The company’s stock had a trading volume of 117,587 shares, compared to its average volume of 2,763,881. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The firm has a market capitalization of $168.16 billion, a PE ratio of 44.81, a P/E/G ratio of 2.83 and a beta of 0.60. Amgen Inc. has a 52 week low of $218.44 and a 52 week high of $329.72. The stock has a fifty day moving average of $299.67 and a two-hundred day moving average of $291.67.

Amgen (NASDAQ:AMGN) last posted 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 company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the previous year, the business earned $3.98 earnings per share. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent research reports. Argus increased their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial reiterated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. UBS Group increased their price objective on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. BMO Capital Markets increased their price objective on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.35.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the 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 sale, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.69% of the company’s stock.

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.