Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Cambridge Advisors Inc.

Cambridge Advisors Inc. lifted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 25,248 shares of the medical research company’s stock after acquiring an additional 71 shares during the period. Amgen accounts for approximately 1.9% of Cambridge Advisors Inc.’s portfolio, making the stock its 10th biggest holding. Cambridge Advisors Inc.’s holdings in Amgen were worth $6,417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB lifted its position in Amgen by 87.9% in the second quarter. Nordea Investment Management AB now owns 8,358,990 shares of the medical research company’s stock worth $1,942,796,000 after purchasing an additional 3,911,383 shares during the period. Clearbridge Investments LLC lifted its position in shares of Amgen by 151.2% during the 1st quarter. Clearbridge Investments LLC now owns 4,118,757 shares of the medical research company’s stock valued at $834,996,000 after acquiring an additional 2,478,922 shares during the last quarter. BlackRock Inc. lifted its position in shares of Amgen by 4.9% during the 2nd quarter. BlackRock Inc. now owns 48,729,584 shares of the medical research company’s stock valued at $11,493,360,000 after acquiring an additional 2,267,217 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of Amgen during the 1st quarter valued at $38,885,000. Finally, Capital International Investors lifted its position in shares of Amgen by 19.6% during the 1st quarter. Capital International Investors now owns 5,700,387 shares of the medical research company’s stock valued at $1,155,642,000 after acquiring an additional 933,191 shares during the last quarter. Institutional investors and hedge funds own 75.23% of the company’s stock.

Amgen stock traded up $0.71 during mid-day trading on Friday, hitting $235.72. 2,059,919 shares of the company’s stock were exchanged, compared to its average volume of 2,885,637. The company has a current ratio of 2.18, a quick ratio of 1.81 and a debt-to-equity ratio of 3.20. The stock has a market cap of $138.06 billion, a P/E ratio of 19.26, a P/E/G ratio of 2.11 and a beta of 0.81. Amgen Inc. has a 1-year low of $177.05 and a 1-year high of $264.97. The stock has a 50 day moving average of $246.43 and a two-hundred day moving average of $237.88.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 28th. The medical research company reported $4.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.81 by $0.44. The firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.19 billion. Amgen had a net margin of 30.04% and a return on equity of 91.98%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.97 earnings per share. As a group, research analysts predict that Amgen Inc. will post 15.66 EPS for the current fiscal year.

In other Amgen news, Director R Sanders Williams sold 250 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $242.95, for a total transaction of $60,737.50. Following the completion of the sale, the director now directly owns 5,159 shares in the company, valued at $1,253,379.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $259.79, for a total transaction of $259,790.00. Following the sale, the director now owns 16,589 shares of the company’s stock, valued at $4,309,656.31. The disclosure for this sale can be found here. Insiders have sold 2,250 shares of company stock worth $561,548 over the last three months. Company insiders own 0.36% of the company’s stock.

A number of equities research analysts have recently commented on AMGN shares. Morgan Stanley cut their price objective on Amgen from $281.00 to $273.00 and set an “overweight” rating for the company in a research report on Tuesday. Piper Sandler boosted their target price on shares of Amgen from $255.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Cantor Fitzgerald boosted their target price on shares of Amgen from $263.00 to $279.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Sanford C. Bernstein downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Friday, October 9th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Amgen in a research note on Tuesday, September 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the company. Amgen currently has an average rating of “Hold” and an average target price of $255.08.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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