Galvin Gaustad & Stein LLC Sells 197 Shares of Amgen Inc. (NASDAQ:AMGN)

Galvin Gaustad & Stein LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 8.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,091 shares of the medical research company’s stock after selling 197 shares during the period. Galvin Gaustad & Stein LLC’s holdings in Amgen were worth $651,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the fourth quarter valued at approximately $26,000. First Pacific Financial lifted its holdings in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after buying an additional 67 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of 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 worth $33,000 after buying an additional 51 shares during the period. Heck Capital Advisors LLC bought a new position in shares of Amgen during the 4th quarter worth $36,000. Finally, Legacy Investment Solutions LLC increased 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 buying an additional 45 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $306.58 on Monday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $340.89. The company has a market cap of $164.85 billion, a PE ratio of 27.97, a P/E/G ratio of 2.65 and a beta of 0.49. 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 business has a 50-day simple moving average of $289.39 and a two-hundred day simple moving average of $291.07.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm 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%. Amgen’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $3.96 EPS. As a group, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. Mizuho upped their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. UBS Group upped their price target on shares of Amgen from $315.00 to $326.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $307.27.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares of the company’s stock, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.76% of the company’s stock.

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.