Amgen Inc. (NASDAQ:AMGN) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 51.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,623 shares of the medical research company's stock after selling 31,877 shares during the period. SteelPeak Wealth LLC's holdings in Amgen were worth $9,541,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Amgen by 35.0% in the 4th quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock valued at $471,000 after acquiring an additional 468 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of Amgen by 3.9% in the 4th quarter. AlphaQuest LLC now owns 1,993 shares of the medical research company's stock valued at $519,000 after acquiring an additional 74 shares during the last quarter. Truvestments Capital LLC boosted its holdings in shares of Amgen by 9.6% in the 4th quarter. Truvestments Capital LLC now owns 791 shares of the medical research company's stock valued at $206,000 after acquiring an additional 69 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Amgen by 89.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,176 shares of the medical research company's stock valued at $14,120,000 after acquiring an additional 25,541 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Down 1.7%

Amgen stock traded down $5.10 during midday trading on Friday, hitting $295.27. 1,619,752 shares of the stock were exchanged, compared to its average volume of 2,845,152. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock has a market capitalization of $158.77 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.72 and a beta of 0.49. The stock's 50-day simple moving average is $283.28 and its 200 day simple moving average is $287.76. 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 (NASDAQ:AMGN - Get Free Report) last announced its 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. 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%. Amgen's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.96 earnings per share. On average, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the 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 transaction, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMGN has been the topic of several recent research reports. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Piper Sandler reiterated an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, UBS Group reiterated a "neutral" rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $307.82.

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.