PKO Investment Management Joint Stock Co Sells 13,200 Shares of Amgen Inc. (NASDAQ:AMGN)

PKO Investment Management Joint Stock Co lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 60.6% in the first quarter, HoldingsChannel.com reports. The firm owned 8,600 shares of the medical research company’s stock after selling 13,200 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Amgen were worth $2,679,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMGN. Tallon Kerry Patrick bought a new position in shares of Amgen during the fourth quarter valued at about $270,000. Brighton Jones LLC increased its holdings in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after purchasing an additional 5,226 shares during the period. Congress Asset Management Co. raised its position in Amgen by 16.6% during the 4th quarter. Congress Asset Management Co. now owns 62,436 shares of the medical research company’s stock valued at $16,273,000 after purchasing an additional 8,895 shares during the last quarter. Principal Securities Inc. raised its position in Amgen by 0.8% during the 4th quarter. Principal Securities Inc. now owns 13,612 shares of the medical research company’s stock valued at $3,548,000 after purchasing an additional 111 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Amgen by 40.0% in the 4th quarter. Allworth Financial LP now owns 35,035 shares of the medical research company’s stock worth $9,580,000 after buying an additional 10,002 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Amgen stock opened at $295.56 on Tuesday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a market capitalization of $158.92 billion, a P/E ratio of 39.15, a PEG ratio of 2.63 and a beta of 0.51. The stock’s 50 day moving average is $281.64 and its 200 day moving average is $285.75.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Guggenheim started coverage on Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective on the stock. Cantor Fitzgerald assumed coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target on the stock. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, UBS Group reiterated a “neutral” rating and set a $315.00 price target (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus price target of $309.22.

Insider Transactions at Amgen

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

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.