Security Financial Services INC. Purchases 47 Shares of Amgen Inc. (NASDAQ:AMGN)

Security Financial Services INC. lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 968 shares of the medical research company’s stock after acquiring an additional 47 shares during the period. Security Financial Services INC.’s holdings in Amgen were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in AMGN. Norges Bank purchased a new position in Amgen in the fourth quarter worth about $1,556,912,000. International Assets Investment Management LLC bought a new stake in Amgen during the fourth quarter valued at approximately $4,589,900,000. Royal Bank of Canada increased its holdings in Amgen by 14.8% during the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after buying an additional 751,947 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Amgen by 486.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after acquiring an additional 745,929 shares during the period. Finally, abrdn plc increased its stake in shares of Amgen by 150.4% in the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after purchasing an additional 626,810 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amgen 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 transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AMGN has been the subject of several recent research reports. Royal Bank of Canada boosted their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. TD Cowen lowered their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Finally, Morgan Stanley upped their target price on shares of Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $305.85.

Amgen Trading Up 0.8 %

Shares of Amgen stock traded up $2.43 on Monday, reaching $310.59. The company had a trading volume of 106,877 shares, compared to its average volume of 2,758,255. The firm’s 50-day moving average price is $296.57 and its two-hundred day moving average price is $290.84. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72. The firm has a market cap of $166.61 billion, a price-to-earnings ratio of 44.02, a P/E/G ratio of 2.80 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The business 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%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.98 earnings per share. As a group, research analysts predict 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.