Riggs Asset Managment Co. Inc. increased its stake in Amgen Inc. (NASDAQ:AMGN) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,232 shares of the medical research company’s stock after buying an additional 2,532 shares during the period. Amgen comprises about 2.0% of Riggs Asset Managment Co. Inc.’s portfolio, making the stock its 22nd largest position. Riggs Asset Managment Co. Inc.’s holdings in Amgen were worth $3,976,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AMGN. Altavista Wealth Management Inc. raised its stake in shares of Amgen by 0.3% in the fourth quarter. Altavista Wealth Management Inc. now owns 3,985 shares of the medical research company’s stock valued at $583,000 after buying an additional 10 shares during the last quarter. Frontier Wealth Management LLC raised its stake in shares of Amgen by 6.2% in the fourth quarter. Frontier Wealth Management LLC now owns 54,824 shares of the medical research company’s stock valued at $8,016,000 after buying an additional 3,212 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Amgen by 361.4% in the fourth quarter. Marshall Wace LLP now owns 174,660 shares of the medical research company’s stock valued at $25,537,000 after buying an additional 136,803 shares during the last quarter. Cypress Capital Management LLC bought a new stake in shares of Amgen during the fourth quarter valued at approximately $328,000. Finally, Wilkins Investment Counsel Inc. raised its stake in shares of Amgen by 2.5% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 4,175 shares of the medical research company’s stock valued at $610,000 after buying an additional 100 shares during the last quarter. Institutional investors own 78.84% of the company’s stock.
Amgen Inc. (NASDAQ:AMGN) opened at 171.43 on Monday. Amgen Inc. has a 1-year low of $133.64 and a 1-year high of $184.21. The stock’s 50 day moving average is $162.22 and its 200-day moving average is $162.64. The firm has a market cap of $126.07 billion, a P/E ratio of 16.28 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Wednesday, April 26th. The medical research company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.15. The firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.60 billion. Amgen had a return on equity of 29.37% and a net margin of 34.42%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.90 EPS. Analysts forecast that Amgen Inc. will post $12.43 EPS for the current year.
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Several equities research analysts have commented on AMGN shares. Vetr lowered shares of Amgen from a “hold” rating to a “sell” rating and set a $174.10 target price on the stock. in a research report on Monday, March 13th. Piper Jaffray Companies restated an “overweight” rating and set a $193.00 target price on shares of Amgen in a research report on Tuesday, March 14th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $189.00 target price on shares of Amgen in a research report on Tuesday, March 14th. Cann restated a “positive” rating and set a $189.00 target price on shares of Amgen in a research report on Wednesday, March 15th. Finally, Mizuho set a $195.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Thursday, March 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $184.94.
In related news, SVP Cynthia M. Patton sold 2,922 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $154.40, for a total value of $451,156.80. Following the completion of the sale, the senior vice president now directly owns 24,214 shares of the company’s stock, valued at approximately $3,738,641.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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