Cannon Financial Strategists Inc. Sells 49 Shares of Amgen Inc. (NASDAQ:AMGN)

Cannon Financial Strategists Inc. cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.4% during the 1st quarter, Holdings Channel reports. The firm owned 2,022 shares of the medical research company’s stock after selling 49 shares during the quarter. Cannon Financial Strategists Inc.’s holdings in Amgen were worth $630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of AMGN. Pinney & Scofield Inc. bought a new stake in shares of Amgen during the 4th quarter worth approximately $26,000. First Pacific Financial lifted its stake in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its stake in 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 valued at $33,000 after purchasing an additional 51 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Amgen in the 4th quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC raised its stake in shares of Amgen by 46.9% during the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 45 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred 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 owned 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $328.00 price target on shares of Amgen in a report on Friday, June 27th. UBS Group reissued a “neutral” rating and set a $315.00 target price (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Mizuho lifted their price target 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. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $307.82.

Amgen Stock Down 1.2%

Shares of Amgen stock opened at $294.76 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The company has a 50-day moving average of $285.90 and a 200 day moving average of $289.35. The firm has a market cap of $158.50 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.66 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 period last year, the business earned $3.96 EPS. Amgen’s revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

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.