Lodestone Wealth Management LLC Sells 1,052 Shares of Amgen Inc. (NASDAQ:AMGN)

Lodestone Wealth Management LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,201 shares of the medical research company's stock after selling 1,052 shares during the quarter. Amgen makes up about 2.2% of Lodestone Wealth Management LLC's investment portfolio, making the stock its 10th largest position. Lodestone Wealth Management LLC's holdings in Amgen were worth $4,113,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of AMGN. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the fourth quarter valued at $26,000. First Pacific Financial raised its stake in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after acquiring an additional 67 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC purchased a new stake in shares of Amgen in the fourth quarter valued at $34,000. Finally, Atala Financial Inc purchased a new stake in shares of Amgen in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Ratings Changes

AMGN has been the topic of several recent analyst reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. UBS Group restated a "neutral" rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $307.82.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were 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 of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.76% of the company's stock.

Amgen Stock Performance

AMGN traded up $1.40 during trading on Friday, reaching $298.25. 1,518,529 shares of the company's stock were exchanged, compared to its average volume of 2,842,825. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The stock has a market capitalization of $160.37 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49. The company's fifty day simple moving average is $282.12 and its 200-day simple moving average is $286.57.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period last year, the firm posted $3.96 EPS. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts predict that Amgen Inc. will post 20.62 earnings per share 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.