Amgen Inc. (NASDAQ:AMGN) Shares Sold by Commerce Bank

Key Points

• Commerce Bank reduced its position in Amgen by 1.3%, now owning 360,210 shares valued at approximately $112.2 million.
• Several institutional investors, including Capital International Investors and Capital World Investors, significantly increased their holdings in Amgen during the fourth quarter, highlighting a strong interest in the stock.
• Amgen reported a quarterly earnings of $4.90 per share, exceeding analysts' expectations, with a revenue increase of 9.4% year-over-year.

Commerce Bank lowered its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 360,210 shares of the medical research company's stock after selling 4,901 shares during the quarter. Commerce Bank owned 0.07% of Amgen worth $112,223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Capital International Investors lifted 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 raised its position in shares of Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after buying an additional 6,029,058 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Amgen by 15.8% during 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 buying an additional 875,254 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Amgen by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock worth $1,336,647,000 after acquiring an additional 685,785 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Amgen by 20.7% during the fourth quarter. Capital Research Global Investors now owns 4,890,092 shares of the medical research company's stock worth $1,274,553,000 after acquiring an additional 839,686 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Down 2.1%

AMGN opened at $295.10 on Friday. The stock has a market capitalization of $158.68 billion, a PE ratio of 26.93, a P/E/G ratio of 2.61 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $340.89. The firm's fifty day moving average price is $291.53 and its 200 day moving average price is $291.66.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the prior year, the business posted $3.96 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This 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 this link. Company insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AMGN shares. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Mizuho upped their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Royal Bank Of Canada decreased their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, UBS Group upped their price objective on shares of Amgen from $315.00 to $326.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Two investment 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 company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $307.27.

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.

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.