FCG Investment Co Buys 1,176 Shares of Amgen Inc. (NASDAQ:AMGN)

FCG Investment Co lifted its position in Amgen Inc. (NASDAQ:AMGN) by 54.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,347 shares of the medical research company’s stock after acquiring an additional 1,176 shares during the period. FCG Investment Co’s holdings in Amgen were worth $952,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AMGN. BOK Financial Private Wealth Inc. bought a new stake in shares of Amgen in the fourth quarter worth about $29,000. United Community Bank bought a new stake in Amgen during the 4th quarter worth approximately $29,000. Planned Solutions Inc. acquired a new stake in Amgen during the 4th quarter worth approximately $30,000. Delos Wealth Advisors LLC lifted 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 holdings in shares of 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 during the period. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMGN. Royal Bank of Canada raised their price objective on shares of Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Truist Financial reissued a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Mizuho upped their price objective on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. UBS Group lifted their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” 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 research note on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company 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 business’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 transaction of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

Amgen stock traded down $1.39 during midday trading on Thursday, reaching $309.38. 1,000,711 shares of the company’s stock were exchanged, compared to its average volume of 2,340,821. The stock’s 50-day simple moving average is $303.81 and its 200 day simple moving average is $292.91. The firm has a market cap of $165.96 billion, a price-to-earnings ratio of 44.20, a P/E/G ratio of 2.81 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. 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 EPS 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 company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the previous year, the company posted $3.98 EPS. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, analysts expect that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

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.