Amgen Inc. (NASDAQ:AMGN) Shares Sold by Kintegral Advisory LLC

Kintegral Advisory LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 32.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,427 shares of the medical research company's stock after selling 10,508 shares during the quarter. Amgen comprises 1.0% of Kintegral Advisory LLC's holdings, making the stock its 20th largest position. Kintegral Advisory LLC's holdings in Amgen were worth $6,676,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of AMGN. Brighton Jones LLC lifted its stake 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 purchasing an additional 5,226 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in Amgen in the 4th quarter valued at about $34,000. Proficio Capital Partners LLC lifted its position in Amgen by 35.0% in the fourth quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock valued at $471,000 after buying an additional 468 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in Amgen by 3.4% during the fourth quarter. Cullen Frost Bankers Inc. now owns 91,826 shares of the medical research company's stock worth $23,933,000 after buying an additional 3,002 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Amgen during the fourth quarter valued at about $401,913,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Up 0.5%

Shares of AMGN traded up $1.40 during midday trading on Friday, reaching $298.25. The stock had a trading volume of 1,518,529 shares, compared to its average volume of 2,842,825. The company has a market cap of $160.37 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 2.70 and a beta of 0.49. The company's fifty day simple moving average is $282.12 and its two-hundred day simple moving average is $286.57. 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 1-year low of $253.30 and a 1-year high of $346.85.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Guggenheim began coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Piper Sandler restated an "overweight" rating and set a $328.00 price target on shares of Amgen in a research report on Friday, June 27th. Royal Bank Of Canada cut their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Two equities 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $307.82.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business'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 value of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by company insiders.

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.