Griffin Asset Management Inc. Has $259,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Griffin Asset Management Inc. lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 911 shares of the medical research company’s stock after purchasing an additional 100 shares during the quarter. Griffin Asset Management Inc.’s holdings in Amgen were worth $259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of Nova Scotia raised its stake in shares of Amgen by 11.4% in the 3rd quarter. Bank of Nova Scotia now owns 54,628 shares of the medical research company’s stock valued at $14,682,000 after purchasing an additional 5,609 shares during the period. CWA Asset Management Group LLC raised its position in Amgen by 26.9% in the 3rd quarter. CWA Asset Management Group LLC now owns 2,334 shares of the medical research company’s stock valued at $627,000 after buying an additional 495 shares during the last quarter. Teza Capital Management LLC lifted its stake in Amgen by 448.3% in the 3rd quarter. Teza Capital Management LLC now owns 5,340 shares of the medical research company’s stock valued at $1,435,000 after acquiring an additional 4,366 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in Amgen during the 3rd quarter worth approximately $411,000. Finally, Fred Alger Management LLC grew its stake in shares of Amgen by 963.8% during the 3rd quarter. Fred Alger Management LLC now owns 95,071 shares of the medical research company’s stock worth $25,551,000 after acquiring an additional 86,134 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Amgen Trading Down 0.4 %

Shares of NASDAQ:AMGN opened at $312.45 on Friday. The business’s 50 day simple moving average is $301.56 and its 200 day simple moving average is $292.23. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The company has a market capitalization of $167.61 billion, a P/E ratio of 44.64, a P/E/G ratio of 2.82 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released its earnings results 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 firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.98 EPS. On average, research analysts anticipate that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent research reports. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Raymond James assumed coverage on shares of Amgen in a research note on Thursday, March 28th. They set a “market perform” rating for the company. UBS Group lifted their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Mizuho increased their price target on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, Argus raised their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average price target of $307.35.

About Amgen

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.