First Trust Direct Indexing L.P. Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

First Trust Direct Indexing L.P. boosted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 13.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,176 shares of the medical research company’s stock after purchasing an additional 1,184 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Amgen were worth $2,893,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of AMGN. Lazard Asset Management LLC boosted its position in Amgen by 114.5% during the 3rd quarter. Lazard Asset Management LLC now owns 36,595 shares of the medical research company’s stock valued at $9,833,000 after acquiring an additional 19,532 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Amgen by 4.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,127,468 shares of the medical research company’s stock valued at $574,427,000 after buying an additional 81,655 shares in the last quarter. Evergreen Capital Management LLC grew its position in shares of Amgen by 19.1% in the 3rd quarter. Evergreen Capital Management LLC now owns 6,998 shares of the medical research company’s stock worth $1,881,000 after buying an additional 1,123 shares during the last quarter. Ellerson Group Inc. ADV lifted its position in Amgen by 8.4% during the third quarter. Ellerson Group Inc. ADV now owns 11,195 shares of the medical research company’s stock valued at $3,009,000 after acquiring an additional 870 shares during the last quarter. Finally, EHP Funds Inc. acquired a new stake in Amgen in the third quarter valued at approximately $269,000. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

NASDAQ:AMGN traded down $1.39 during mid-day trading on Thursday, hitting $309.38. The company’s stock had a trading volume of 1,000,711 shares, compared to its average volume of 2,340,821. The business’s fifty day moving average is $303.81 and its two-hundred day moving average is $292.91. The stock has a market cap of $165.96 billion, a price-to-earnings ratio of 44.20, a PEG ratio of 2.81 and a beta of 0.58. Amgen Inc. has a 1 year low of $218.44 and a 1 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.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The firm had revenue of $7.45 billion for 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 company’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.98 earnings per share. Analysts anticipate that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were 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 directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMGN shares. Argus upped their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Truist Financial reaffirmed a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. UBS Group raised their price target on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada increased their price objective on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.