Webster Bank N. A. Has $1.10 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Webster Bank N. A. raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 17.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,854 shares of the medical research company’s stock after acquiring an additional 584 shares during the quarter. Webster Bank N. A.’s holdings in Amgen were worth $1,096,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. BIP Wealth LLC lifted its holdings in shares of Amgen by 2.6% during the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after acquiring an additional 32 shares during the last quarter. Southland Equity Partners LLC lifted 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 worth $443,000 after purchasing an additional 34 shares during the last quarter. Acropolis Investment Management LLC lifted its stake 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 during the last quarter. Opal Wealth Advisors LLC lifted its stake 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 during the last quarter. Finally, Marino Stram & Associates LLC lifted its stake in Amgen by 0.7% in the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after purchasing an additional 34 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Amgen Stock Performance

AMGN traded down $1.24 during trading on Friday, hitting $312.45. The company’s stock had a trading volume of 3,518,174 shares, compared to its average volume of 2,437,626. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a one year low of $218.44 and a one year high of $329.72. The firm has a market cap of $167.61 billion, a PE ratio of 44.64, a P/E/G ratio of 2.83 and a beta of 0.60. The business’s 50 day simple moving average is $301.56 and its 200-day simple moving average is $292.10.

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

Analysts Set New Price Targets

AMGN has been the subject of several recent analyst reports. TD Cowen lowered their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada upped their price objective on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Morgan Stanley upped their price objective on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. BMO Capital Markets upped their price objective on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, UBS Group upped their price objective on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $307.35.

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.