Amgen Inc. (NASDAQ:AMGN) Shares Sold by Midland Wealth Advisors LLC

Midland Wealth Advisors LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 10.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,202 shares of the medical research company’s stock after selling 256 shares during the period. Midland Wealth Advisors LLC’s holdings in Amgen were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tallon Kerry Patrick acquired a new position in Amgen in the fourth quarter worth approximately $270,000. Brighton Jones LLC boosted its stake in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in shares of Amgen by 18.8% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,691 shares of the medical research company’s stock worth $439,000 after acquiring an additional 268 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Amgen in the 4th quarter worth $9,313,000. Finally, Apollon Financial LLC raised its position in shares of Amgen by 5.4% during the fourth quarter. Apollon Financial LLC now owns 944 shares of the medical research company’s stock worth $246,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMGN. Johnson Rice set a $294.00 price target on Amgen in a research report on Wednesday, March 5th. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. UBS Group reissued a “neutral” rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Mizuho lifted their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $309.22.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is owned by corporate insiders.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $290.33 on Monday. The business’s 50-day simple moving average is $281.57 and its 200-day simple moving average is $285.39. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market cap of $156.11 billion, a price-to-earnings ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter in the prior year, the business earned $3.96 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal 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.