Amgen Inc. (NASDAQ:AMGN) Shares Bought by Grimes & Company Inc.

Grimes & Company Inc. increased its position in Amgen Inc. (NASDAQ:AMGN) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,146 shares of the medical research company’s stock after acquiring an additional 1,715 shares during the period. Amgen makes up about 0.8% of Grimes & Company Inc.’s investment portfolio, making the stock its 26th biggest position. Grimes & Company Inc.’s holdings in Amgen were worth $26,483,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BIP Wealth LLC boosted its stake in Amgen by 2.6% in the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after purchasing an additional 32 shares during the period. Southland Equity Partners LLC boosted its position in shares of Amgen by 2.3% in the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after buying an additional 34 shares during the period. Acropolis Investment Management LLC boosted its position in shares of Amgen by 3.5% in the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after buying an additional 34 shares during the period. Opal Wealth Advisors LLC grew its holdings in shares of Amgen by 1.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after buying an additional 34 shares in the last quarter. Finally, Marino Stram & Associates LLC raised its position in Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after buying an additional 34 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

AMGN traded down $1.24 during trading on Friday, hitting $312.45. The stock had a trading volume of 3,518,174 shares, compared to its average volume of 2,437,626. The firm has a market cap of $167.61 billion, a PE ratio of 44.64, a P/E/G ratio of 2.83 and a beta of 0.60. 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. The company has a 50 day simple moving average of $301.56 and a 200-day simple moving average of $292.23.

Amgen (NASDAQ:AMGN) last posted 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. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.98 EPS. Analysts expect that Amgen Inc. will post 19.47 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AMGN shares. 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. Morgan Stanley upped their price objective on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. TD Cowen decreased their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. UBS Group upped their price target on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada lifted their price objective on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Ten investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $307.35.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, 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. 0.69% of the stock is owned by company insiders.

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.