Transcendent Capital Group LLC Invests $81,000 in Amgen Inc. (NASDAQ:AMGN)

Transcendent Capital Group LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, HoldingsChannel reports. The firm acquired 282 shares of the medical research company’s stock, valued at approximately $81,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after purchasing an additional 165,636 shares in the last quarter. Northern Trust Corp raised its stake in shares of Amgen by 3.8% during the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock worth $1,875,306,000 after purchasing an additional 255,463 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Amgen by 3.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after purchasing an additional 243,720 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Amgen by 14.8% during 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 purchasing an additional 751,947 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Amgen during the 4th quarter worth approximately $1,556,912,000. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. TD Cowen dropped their price target on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Royal Bank of Canada increased their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday. Mizuho increased their price target on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research note 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 MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average price target of $305.85.

Amgen Price Performance

Shares of AMGN traded up $0.12 during trading hours on Friday, hitting $298.62. 1,713,616 shares of the company were exchanged, compared to its average volume of 2,090,173. The company has a market cap of $160.19 billion, a price-to-earnings ratio of 42.66, a P/E/G ratio of 2.70 and a beta of 0.60. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week high of $329.72. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm’s fifty day moving average is $292.77 and its 200 day moving average is $289.25.

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

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by insiders.

Amgen Company 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.