US Bancorp DE Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

US Bancorp DE lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 731,073 shares of the medical research company’s stock after selling 6,952 shares during the period. US Bancorp DE’s holdings in Amgen were worth $227,768,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. US Financial Advisors LLC purchased a new position in shares of Amgen in the 1st quarter valued at approximately $235,000. King Wealth Management Group raised its holdings in shares of Amgen by 5.6% in the first quarter. King Wealth Management Group now owns 1,254 shares of the medical research company’s stock worth $391,000 after buying an additional 66 shares during the last quarter. MGO One Seven LLC lifted its stake in shares of Amgen by 9.4% during the first quarter. MGO One Seven LLC now owns 9,463 shares of the medical research company’s stock worth $2,948,000 after buying an additional 810 shares during the period. Atlas Wealth LLC purchased a new stake in shares of Amgen during the first quarter valued at $201,000. Finally, Hoxton Planning & Management LLC acquired a new position in shares of Amgen in the 1st quarter valued at $302,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Citigroup increased their price target on shares of Amgen from $300.00 to $305.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Bank of America lifted their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada cut their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $307.27.

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 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is currently owned by insiders.

Amgen Trading Down 2.1%

Shares of AMGN stock opened at $295.10 on Friday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $340.89. The company has a market cap of $158.68 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 2.61 and a beta of 0.49. 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 stock has a 50 day simple moving average of $291.53 and a 200-day simple moving average of $291.66.

Amgen (NASDAQ:AMGN) last issued its quarterly 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. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.96 EPS. On average, equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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.