Central Pacific Bank Trust Division Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Central Pacific Bank Trust Division purchased a new position in Amgen Inc. (NASDAQ:AMGN) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,464 shares of the medical research company’s stock, valued at approximately $414,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Horizon Financial Services LLC acquired a new stake in shares of Amgen during the 1st quarter worth approximately $28,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen during the 4th quarter worth approximately $29,000. United Community Bank acquired a new stake in shares of Amgen during the 4th quarter worth approximately $29,000. Planned Solutions Inc. acquired a new stake in shares of Amgen during the 4th quarter worth approximately $30,000. Finally, Delos Wealth Advisors LLC grew its holdings in shares of Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares in 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 company’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 in the company, valued at $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Mizuho boosted 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. BMO Capital Markets boosted their price target on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Argus boosted their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $307.35.

Amgen Trading Up 1.4 %

Shares of AMGN stock traded up $4.45 on Tuesday, reaching $315.91. 1,852,532 shares of the stock were exchanged, compared to its average volume of 2,728,681. The stock has a market cap of $169.46 billion, a PE ratio of 45.13, a P/E/G ratio of 2.81 and a beta of 0.58. Amgen Inc. has a one year low of $218.61 and a one year high of $329.72. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The stock has a 50 day moving average price of $306.97 and a 200 day moving average price of $293.95.

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, topping analysts’ consensus estimates of $3.76 by $0.20. The company 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.98 earnings per share. Equities research analysts forecast that Amgen Inc. will post 19.47 EPS for the current fiscal year.

About Amgen

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.