Aaron Wealth Advisors LLC Sells 3,706 Shares of Amgen Inc. (NASDAQ:AMGN)

Aaron Wealth Advisors LLC reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,176 shares of the medical research company's stock after selling 3,706 shares during the quarter. Amgen makes up about 6.6% of Aaron Wealth Advisors LLC's investment portfolio, making the stock its 3rd largest holding. Aaron Wealth Advisors LLC's holdings in Amgen were worth $58,003,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AMGN. First Bank & Trust raised its position in Amgen by 9.0% during the first quarter. First Bank & Trust now owns 10,530 shares of the medical research company's stock valued at $3,281,000 after purchasing an additional 871 shares during the period. Arbor Trust Wealth Advisors LLC purchased a new position in Amgen in the 1st quarter worth about $215,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Amgen by 6.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 296,863 shares of the medical research company's stock valued at $92,488,000 after purchasing an additional 17,721 shares during the period. Lansing Street Advisors increased its stake in shares of Amgen by 53.4% during the first quarter. Lansing Street Advisors now owns 3,938 shares of the medical research company's stock valued at $1,227,000 after buying an additional 1,371 shares during the period. Finally, Clear Creek Financial Management LLC increased its holdings in Amgen by 3.9% during the first quarter. Clear Creek Financial Management LLC now owns 2,158 shares of the medical research company's stock valued at $672,000 after buying an additional 82 shares during the period. Institutional investors own 76.50% of the company's stock.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research analyst reports. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Johnson Rice set a $294.00 target price on Amgen in a research note on Wednesday, March 5th. Bank of America upped their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Finally, Guggenheim initiated coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $307.82.

Amgen Stock Performance

Shares of Amgen stock traded up $1.45 on Thursday, hitting $298.30. The stock had a trading volume of 729,186 shares, compared to its average volume of 2,832,842. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company's 50 day moving average price is $281.75 and its 200 day moving average price is $286.35. The stock has a market cap of $160.40 billion, a price-to-earnings ratio of 27.24, a P/E/G ratio of 2.63 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released its 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. 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 last year, the business earned $3.96 EPS. The business's revenue was up 9.4% on a year-over-year basis. On average, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current 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.