Forte Capital LLC ADV Purchases 2,022 Shares of Amgen, Inc. (NASDAQ:AMGN)

Forte Capital LLC ADV grew its position in Amgen, Inc. (NASDAQ:AMGN) by 8.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,172 shares of the medical research company’s stock after buying an additional 2,022 shares during the period. Amgen accounts for about 1.5% of Forte Capital LLC ADV’s portfolio, making the stock its 21st largest position. Forte Capital LLC ADV’s holdings in Amgen were worth $4,871,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Gifford Fong Associates boosted its stake in Amgen by 25.3% in the 2nd quarter. Gifford Fong Associates now owns 67,671 shares of the medical research company’s stock worth $12,470,000 after purchasing an additional 13,671 shares in the last quarter. Bray Capital Advisors boosted its stake in Amgen by 11.6% in the 2nd quarter. Bray Capital Advisors now owns 19,676 shares of the medical research company’s stock worth $3,626,000 after purchasing an additional 2,045 shares in the last quarter. Weaver Consulting Group acquired a new stake in Amgen in the 1st quarter worth approximately $239,000. CHICAGO TRUST Co NA boosted its stake in Amgen by 2.8% in the 2nd quarter. CHICAGO TRUST Co NA now owns 3,716 shares of the medical research company’s stock worth $685,000 after purchasing an additional 100 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Amgen by 4.0% in the 2nd quarter. Private Advisor Group LLC now owns 38,488 shares of the medical research company’s stock worth $7,093,000 after purchasing an additional 1,494 shares in the last quarter. Institutional investors and hedge funds own 76.24% of the company’s stock.

AMGN traded up $0.61 during trading on Wednesday, reaching $196.69. 1,067,715 shares of the company’s stock were exchanged, compared to its average volume of 2,982,918. Amgen, Inc. has a 1 year low of $166.30 and a 1 year high of $211.90. The company has a debt-to-equity ratio of 2.58, a current ratio of 2.89 and a quick ratio of 2.60. The stock has a market capitalization of $117.96 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 2.54 and a beta of 1.11. The company’s fifty day simple moving average is $199.68 and its 200-day simple moving average is $186.14.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.39. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same period last year, the firm posted $3.83 EPS. Amgen’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts forecast that Amgen, Inc. will post 14.31 EPS for the current year.

A number of research firms recently commented on AMGN. Piper Jaffray Companies lifted their target price on shares of Amgen from $210.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Credit Suisse Group reiterated an “outperform” rating and issued a $225.00 target price (up from $202.00) on shares of Amgen in a research note on Friday, August 16th. Morgan Stanley lowered their target price on shares of Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Cantor Fitzgerald set a $230.00 target price on shares of Amgen and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, BidaskClub upgraded shares of Amgen from a “sell” rating to a “hold” rating in a research note on Tuesday. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $217.41.

In other news, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $193.58, for a total transaction of $387,160.00. Following the completion of the transaction, the director now directly owns 16,436 shares of the company’s stock, valued at approximately $3,181,680.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Cynthia M. Patton sold 13,426 shares of Amgen stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $208.07, for a total transaction of $2,793,547.82. Following the transaction, the senior vice president now directly owns 32,648 shares of the company’s stock, valued at $6,793,069.36. The disclosure for this sale can be found here. Insiders have sold a total of 17,851 shares of company stock valued at $3,671,900 over the last three months. 0.25% of the stock is currently owned by insiders.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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