Amgen Inc. (NASDAQ:AMGN) Shares Sold by Union Savings Bank

Union Savings Bank lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,251 shares of the medical research company’s stock after selling 64 shares during the period. Union Savings Bank’s holdings in Amgen were worth $390,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position 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 worth $13,741,409,000 after acquiring an additional 339,522 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 valued at $3,441,909,000 after purchasing an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC grew its position in Amgen by 2.9% during the fourth 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 in the last quarter. Capital International Investors grew its position in Amgen by 40.1% during the fourth 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 in the last quarter. Finally, Capital World Investors grew its position in 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 valued at $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Transactions at Amgen

In other Amgen 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 owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is owned by insiders.

Amgen Trading Down 0.1%

Shares of AMGN stock opened at $289.33 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock has a market cap of $155.58 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 2.62 and a beta of 0.51. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The firm has a fifty day moving average of $281.82 and a 200-day moving average of $285.96.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) 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 company 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 company posted $3.96 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AMGN shares. Royal Bank Of Canada lowered their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock 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. Mizuho lifted their target price on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. UBS Group reiterated a “neutral” rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Finally, Piper Sandler reduced their target price 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 assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $309.22.

About Amgen

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.