Abacus FCF Advisors LLC Acquires 517 Shares of Amgen Inc. (NASDAQ:AMGN)

Abacus FCF Advisors LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,033 shares of the medical research company’s stock after acquiring an additional 517 shares during the period. Abacus FCF Advisors LLC’s holdings in Amgen were worth $5,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Capital World Investors grew its holdings in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after acquiring an additional 6,029,058 shares in the last quarter. Norges Bank bought a new position in Amgen during the 4th quarter worth about $1,541,991,000. GAMMA Investing LLC grew its holdings in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares in the last quarter. Capital International Investors grew its holdings in Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after acquiring an additional 3,495,503 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after acquiring an additional 2,672,975 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

AMGN opened at $289.98 on Tuesday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a market capitalization of $155.92 billion, a PE ratio of 38.41, a P/E/G ratio of 2.63 and a beta of 0.51. The firm has a 50 day moving average of $281.26 and a two-hundred day moving average of $285.36.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period last year, the firm posted $3.96 EPS. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on AMGN. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Royal Bank of Canada lowered their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Mizuho raised their price target on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Cantor Fitzgerald began coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $309.22.

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.