Massmutual Trust Co. FSB ADV Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

Massmutual Trust Co. FSB ADV increased its stake in Amgen Inc. (NASDAQ:AMGN) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,939 shares of the medical research company’s stock after acquiring an additional 787 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Amgen were worth $1,973,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMGN. BOK Financial Private Wealth Inc. purchased a new position in Amgen in the fourth quarter valued at approximately $29,000. United Community Bank acquired a new position in shares of Amgen during the 4th quarter valued at $29,000. Providence Capital Advisors LLC purchased a new stake in Amgen during the 3rd quarter worth $30,000. Planned Solutions Inc. acquired a new stake in Amgen in the 4th quarter valued at $30,000. Finally, Delos Wealth Advisors LLC raised its position 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 purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of a number of analyst reports. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Raymond James started coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. Truist Financial reiterated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Morgan Stanley raised their target price on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Finally, TD Cowen dropped their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and an average price target of $305.85.

Amgen Trading Up 1.3 %

Amgen stock opened at $309.89 on Friday. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72. The firm’s 50-day moving average is $295.75 and its 200-day moving average is $290.30. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The company has a market cap of $166.24 billion, a P/E ratio of 44.27, a PEG ratio of 2.76 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. Amgen’s revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the company posted $3.98 earnings per share. On average, equities analysts expect that Amgen Inc. will post 19.47 earnings per share for the current 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.