Congress Asset Management Co. MA Has $16.21 Million Position in Amgen Inc. (NASDAQ:AMGN)

Congress Asset Management Co. MA reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,284 shares of the medical research company’s stock after selling 2,149 shares during the period. Congress Asset Management Co. MA’s holdings in Amgen were worth $16,211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. BIP Wealth LLC raised its stake in Amgen by 2.6% in the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after acquiring an additional 32 shares during the period. Southland Equity Partners LLC raised its stake in Amgen by 2.3% in the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after acquiring an additional 34 shares during the period. Acropolis Investment Management LLC raised its stake in Amgen by 3.5% in the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after acquiring an additional 34 shares during the period. Opal Wealth Advisors LLC raised its stake in Amgen by 1.9% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after acquiring an additional 34 shares during the period. Finally, Marino Stram & Associates LLC raised its stake in Amgen by 0.7% in the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after acquiring an additional 34 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen 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 transaction, 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 legal filing with the SEC, which is available through the SEC website. 0.69% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMGN. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. TD Cowen cut their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. BMO Capital Markets boosted their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $305.85.

Amgen Stock Up 0.0 %

AMGN traded up $0.12 during trading on Friday, reaching $298.62. The stock had a trading volume of 1,713,616 shares, compared to its average volume of 2,090,173. The stock’s 50 day moving average is $292.77 and its two-hundred day moving average is $289.58. 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 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 one year low of $218.44 and a one year high of $329.72.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping 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 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 quarter in the prior year, the company earned $3.98 earnings per share. As a group, analysts expect that Amgen Inc. will post 19.47 earnings per share for the current year.

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.