Amgen Inc. (NASDAQ:AMGN) Shares Sold by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 73.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 744 shares of the medical research company's stock after selling 2,082 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Amgen were worth $232,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Amgen by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock worth $13,741,409,000 after acquiring an additional 339,522 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the period. Geode Capital Management LLC boosted its holdings in Amgen by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock valued at $3,245,881,000 after purchasing an additional 352,143 shares during the period. Capital International Investors boosted its holdings in Amgen by 40.1% in the fourth 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 during the period. Finally, Capital World Investors raised its stake in 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 in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Trading Up 0.1%

Shares of AMGN opened at $295.56 on Tuesday. The company has a market capitalization of $158.92 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a fifty day moving average of $281.64 and a two-hundred day moving average of $285.75. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the firm posted $3.96 EPS. The business's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Analysts Set New Price Targets

AMGN has been the topic of a number of analyst reports. Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. UBS Group restated a "neutral" rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Finally, Bank of America boosted their price target on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $309.22.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president now directly owns 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is owned by 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.

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