Norway Savings Bank Purchases 640 Shares of Amgen Inc. (NASDAQ:AMGN)

Norway Savings Bank grew its position in Amgen Inc. (NASDAQ:AMGN) by 25.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,111 shares of the medical research company’s stock after acquiring an additional 640 shares during the quarter. Norway Savings Bank’s holdings in Amgen were worth $885,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BIP Wealth LLC increased its holdings 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 buying an additional 32 shares during the period. Southland Equity Partners LLC increased its stake in Amgen by 2.3% in the fourth 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 position in Amgen by 3.5% in the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after purchasing an additional 34 shares in the last quarter. Opal Wealth Advisors LLC raised its position in Amgen by 1.9% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after purchasing an additional 34 shares in the last quarter. Finally, Marino Stram & Associates LLC boosted its holdings in Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $312.45 on Friday. The company has a market cap of $167.61 billion, a PE ratio of 44.64, a PEG ratio of 2.83 and a beta of 0.60. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72. The company’s 50-day moving average is $301.56 and its two-hundred day moving average is $292.10.

Amgen (NASDAQ:AMGN) last posted its quarterly 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. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the previous year, the firm posted $3.98 earnings per share. Amgen’s revenue for the quarter was up 22.0% compared to the same quarter last year. Equities analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current year.

Insider Buying and Selling

In other Amgen 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 transaction of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMGN shares. Mizuho increased their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Argus lifted their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday. Truist Financial restated a “buy” rating and issued a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Morgan Stanley increased their target price on shares of Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research report 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 stock. Based on data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $307.35.

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.