Amgen Inc. (NASDAQ:AMGN) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 11.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,575 shares of the medical research company’s stock after selling 573 shares during the quarter. Focus Financial Network Inc.’s holdings in Amgen were worth $1,425,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Centricity Wealth Management LLC bought a new stake in shares of Amgen during the fourth quarter valued at about $25,000. Pinney & Scofield Inc. bought a new stake in Amgen during the fourth quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in Amgen during the 4th quarter worth about $34,000. Finally, Atala Financial Inc acquired a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMGN shares. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Cantor Fitzgerald started coverage on Amgen in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price objective on the stock. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Finally, Piper Sandler reduced their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $309.22.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by insiders.

Amgen Stock Down 0.6%

Shares of NASDAQ:AMGN opened at $291.81 on Thursday. The company has a 50 day moving average of $280.88 and a 200-day moving average of $285.46. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The stock has a market cap of $156.91 billion, a price-to-earnings ratio of 38.65, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.96 earnings per share. On average, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen 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.