Richardson Financial Services Inc. Makes New $429,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Richardson Financial Services Inc. acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,488 shares of the medical research company’s stock, valued at approximately $429,000.

A number of other large investors also recently bought and sold shares of the company. Kestra Advisory Services LLC boosted its position in shares of Amgen by 1.7% in the third quarter. Kestra Advisory Services LLC now owns 57,872 shares of the medical research company’s stock worth $15,554,000 after acquiring an additional 995 shares during the last quarter. Financial Engines Advisors L.L.C. boosted its holdings in Amgen by 48.5% in the third quarter. Financial Engines Advisors L.L.C. now owns 3,483 shares of the medical research company’s stock worth $936,000 after purchasing an additional 1,137 shares during the period. Concorde Asset Management LLC acquired a new position in shares of Amgen during the third quarter valued at $203,000. QRG Capital Management Inc. acquired a new position in shares of Amgen during the third quarter valued at $20,629,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Amgen in the third quarter worth about $17,913,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business’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 completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $0.12 during mid-day trading on Friday, hitting $298.62. The company had a trading volume of 1,713,616 shares, compared to its average volume of 2,090,173. The company has a market capitalization 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 1 year low of $218.44 and a 1 year high of $329.72. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The stock’s 50-day moving average price is $292.77 and its 200-day moving average price is $289.42.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.98 earnings per share. On average, sell-side analysts forecast that Amgen Inc. will post 19.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on AMGN shares. UBS Group boosted their price objective on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Royal Bank of Canada upped their target price on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets upped their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Finally, Raymond James began coverage on Amgen in a report on Thursday, March 28th. They issued a “market perform” rating on the stock. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average price target of $305.85.

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.