GLOBALT Investments LLC GA Has $6.57 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

GLOBALT Investments LLC GA cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 21,081 shares of the medical research company’s stock after selling 112 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Amgen were worth $6,568,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMGN. Brighton Jones LLC increased its holdings in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after buying an additional 5,226 shares in the last quarter. Quantbot Technologies LP boosted its position in Amgen by 219.5% during the fourth quarter. Quantbot Technologies LP now owns 1,492 shares of the medical research company’s stock valued at $389,000 after acquiring an additional 1,025 shares during the last quarter. Ausdal Financial Partners Inc. boosted its position in Amgen by 67.2% during the fourth quarter. Ausdal Financial Partners Inc. now owns 2,509 shares of the medical research company’s stock valued at $654,000 after acquiring an additional 1,008 shares during the last quarter. Caisse Des Depots ET Consignations bought a new stake in Amgen during the fourth quarter valued at $543,000. Finally, New Age Alpha Advisors LLC boosted its position in Amgen by 55,508.3% during the fourth quarter. New Age Alpha Advisors LLC now owns 20,019 shares of the medical research company’s stock valued at $5,218,000 after acquiring an additional 19,983 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 0.6%

Shares of AMGN stock opened at $306.58 on Friday. The company has a 50 day moving average of $289.39 and a 200-day moving average of $290.70. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $340.89. The firm has a market cap of $164.85 billion, a P/E ratio of 27.97, a PEG ratio of 2.67 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $8.05 billion. During the same quarter last year, the business posted $3.96 EPS. Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the firm’s 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 completion of the sale, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on AMGN. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price target on the stock. UBS Group upped their price target on shares of Amgen from $315.00 to $326.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Finally, Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $307.27.

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.