Arrow Financial Corp Sells 4,775 Shares of Amgen Inc. (NASDAQ:AMGN)

Arrow Financial Corp reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 30.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,822 shares of the medical research company's stock after selling 4,775 shares during the quarter. Arrow Financial Corp's holdings in Amgen were worth $3,372,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Crestwood Advisors Group LLC grew its position in shares of Amgen by 2.7% during the first quarter. Crestwood Advisors Group LLC now owns 10,773 shares of the medical research company's stock worth $3,356,000 after acquiring an additional 288 shares during the last quarter. Lewis Asset Management LLC grew its position in shares of Amgen by 13.0% during the first quarter. Lewis Asset Management LLC now owns 2,176 shares of the medical research company's stock worth $678,000 after acquiring an additional 251 shares during the last quarter. GW&K Investment Management LLC grew its position in Amgen by 0.8% in the 1st quarter. GW&K Investment Management LLC now owns 103,156 shares of the medical research company's stock valued at $32,138,000 after buying an additional 838 shares in the last quarter. Chancellor Financial Group WB LP bought a new position in Amgen in the 1st quarter valued at about $211,000. Finally, Los Angeles Capital Management LLC grew its position in Amgen by 2,078.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 194,011 shares of the medical research company's stock valued at $60,444,000 after buying an additional 185,107 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Bank of America increased their target price on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research report on Wednesday. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Mizuho raised their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $307.27.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated 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 directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.76% of the company's stock.

Amgen Trading Down 0.0%

AMGN stock traded down $0.08 during midday trading on Thursday, reaching $309.14. The stock had a trading volume of 563,652 shares, compared to its average volume of 2,949,143. The business has a fifty day simple moving average of $287.97 and a two-hundred day simple moving average of $290.04. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The firm has a market cap of $166.23 billion, a price-to-earnings ratio of 28.20, a PEG ratio of 2.76 and a beta of 0.49. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 176.11% and a net margin of 17.39%. The company's revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $3.96 earnings per share. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal 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.