Hennion & Walsh Asset Management Inc. Has $3.31 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Hennion & Walsh Asset Management Inc. raised its stake in Amgen Inc. (NASDAQ:AMGN) by 37.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,642 shares of the medical research company’s stock after acquiring an additional 3,168 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Amgen were worth $3,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after purchasing an additional 165,636 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Amgen by 3.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock valued at $1,890,769,000 after acquiring an additional 243,720 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after acquiring an additional 751,947 shares in the last quarter. Norges Bank acquired a new position in shares of Amgen in the 4th quarter worth approximately $1,556,912,000. Finally, California Public Employees Retirement System grew its position in Amgen by 22.0% during the 4th quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock worth $782,288,000 after acquiring an additional 490,539 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Activity at Amgen

In related 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 owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Amgen Price Performance

Shares of AMGN opened at $312.45 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a twelve month low of $218.44 and a twelve month high of $329.72. The stock has a market capitalization of $167.61 billion, a P/E ratio of 44.64, a P/E/G ratio of 2.83 and a beta of 0.60. The company has a 50 day moving average of $301.56 and a 200-day moving average of $292.23.

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 business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.98 earnings per share. As a group, equities research analysts forecast that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on AMGN. TD Cowen cut their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Raymond James assumed coverage on Amgen in a report on Thursday, March 28th. They issued a “market perform” rating for the company. BMO Capital Markets increased their price objective on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. UBS Group boosted their target price on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. 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 research report on Friday, May 3rd. Ten 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 has an average rating of “Moderate Buy” and an average price target of $307.35.

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.