Amgen Inc. (NASDAQ:AMGN) Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,253 shares of the medical research company's stock after selling 4,218 shares during the period. Amgen comprises about 2.0% of Alpine Woods Capital Investors LLC's holdings, making the stock its 7th largest holding. Alpine Woods Capital Investors LLC's holdings in Amgen were worth $7,868,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Amgen by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock valued at $13,741,409,000 after purchasing an additional 339,522 shares in the last quarter. Geode Capital Management LLC increased its position in Amgen by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock worth $3,245,881,000 after purchasing an additional 352,143 shares in the last quarter. Capital International Investors increased its holdings in Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares in the last quarter. Capital World Investors lifted its position in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after acquiring an additional 6,029,058 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Amgen by 15.8% in the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after purchasing an additional 875,254 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Down 1.7%

Shares of NASDAQ AMGN traded down $5.10 during midday trading on Friday, reaching $295.27. 1,619,752 shares of the company's stock traded hands, compared to its average volume of 2,845,152. The stock's 50 day simple moving average is $283.56 and its 200-day simple moving average is $287.97. 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 one year low of $253.30 and a one year high of $346.85. The company has a market cap of $158.77 billion, a price-to-earnings ratio of 26.94, a P/E/G ratio of 2.72 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period last year, the firm earned $3.96 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent research reports. Guggenheim began coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Two investment 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. According to MarketBeat.com, Amgen has an average rating of "Hold" and an average price target of $307.82.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value 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. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.76% of the stock is owned by company insiders.

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.