Amgen Inc. (NASDAQ:AMGN) Position Cut by United Advisor Group LLC

United Advisor Group LLC cut its stake in Amgen Inc. (NASDAQ:AMGN) by 22.1% in the 1st quarter, HoldingsChannel reports. The fund owned 921 shares of the medical research company’s stock after selling 261 shares during the period. United Advisor Group LLC’s holdings in Amgen were worth $287,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Vanguard Group Inc. lifted its holdings in shares of Amgen by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after buying an additional 339,522 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares during the period. Geode Capital Management LLC raised its stake in Amgen by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock valued at $3,245,881,000 after purchasing an additional 352,143 shares during the period. Capital International Investors grew its stake in Amgen by 40.1% during 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 acquiring an additional 3,495,503 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after buying an additional 6,029,058 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Trading Down 0.1%

AMGN opened at $289.33 on Friday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a 50-day moving average price of $281.82 and a two-hundred day moving average price of $285.96. The stock has a market capitalization of $155.58 billion, a PE ratio of 26.40, a PEG ratio of 2.62 and a beta of 0.51. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the business posted $3.96 earnings per share. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction dated 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 approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent research reports. Piper Sandler decreased their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Mizuho upped their price target on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Guggenheim began coverage on Amgen in a report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective on the stock. Finally, Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Amgen has a consensus rating of “Hold” and a consensus price target of $309.22.

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.