First United Bank & Trust Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

First United Bank & Trust boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,968 shares of the medical research company’s stock after purchasing an additional 110 shares during the period. First United Bank & Trust’s holdings in Amgen were worth $1,859,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AMGN. Capital World Investors boosted its stake in shares of Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after buying an additional 6,029,058 shares during the period. Norges Bank purchased a new stake in Amgen during the 4th quarter valued at approximately $1,541,991,000. GAMMA Investing LLC lifted its position in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the period. Capital International Investors grew its stake in shares of Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. UBS Group reiterated a “neutral” rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target on the stock. Finally, Royal Bank of Canada decreased their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $309.22.

Amgen Trading Down 0.6%

NASDAQ AMGN opened at $291.81 on Thursday. The stock has a market cap of $156.91 billion, a P/E ratio of 38.65, a PEG ratio of 2.63 and a beta of 0.51. The company’s fifty day simple moving average is $280.88 and its 200-day simple moving average is $285.46. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.96 EPS. Equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.76% of the company’s stock.

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.