Amgen Inc. (NASDAQ:AMGN) Stock Position Reduced by Seizert Capital Partners LLC

Key Points

• Seizert Capital Partners LLC reduced its stake in Amgen Inc. by 8.1% during the first quarter, holding 174,886 shares worth approximately $54.5 million, making Amgen the firm's 10th largest holding.
• Multiple institutional investors increased their positions in Amgen significantly during the fourth quarter, with Capital International Investors leading with a 40.1% increase, now owning over 12 million shares valued at about $3.2 billion.
• Analysts have mixed ratings for Amgen, with a consensus rating of "Hold" and an average price target of $307.27, while UBS Group recently raised its price target to $326.00.

Seizert Capital Partners LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 174,886 shares of the medical research company's stock after selling 15,376 shares during the period. Amgen makes up approximately 2.5% of Seizert Capital Partners LLC's holdings, making the stock its 10th largest position. Seizert Capital Partners LLC's holdings in Amgen were worth $54,486,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AMGN. Brighton Jones LLC increased its position in shares of Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Amgen during the fourth quarter valued at approximately $8,798,000. Wellington Management Group LLP increased its position in shares of Amgen by 22.7% during the fourth quarter. Wellington Management Group LLP now owns 293,675 shares of the medical research company's stock valued at $76,543,000 after acquiring an additional 54,321 shares in the last quarter. Summit Financial LLC increased its position in shares of Amgen by 23.6% during the fourth quarter. Summit Financial LLC now owns 10,566 shares of the medical research company's stock valued at $2,754,000 after acquiring an additional 2,018 shares in the last quarter. Finally, Tradewinds LLC. increased its position in shares of Amgen by 102.3% during the fourth quarter. Tradewinds LLC. now owns 5,371 shares of the medical research company's stock valued at $1,400,000 after acquiring an additional 2,716 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

Shares of AMGN traded down $6.27 during trading hours on Thursday, reaching $295.10. 2,251,875 shares of the stock traded hands, compared to its average volume of 1,671,367. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $340.89. The company's 50-day moving average price is $291.53 and its two-hundred day moving average price is $291.66. The company has a market cap of $158.68 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share 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 company had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter in the previous year, the company earned $3.96 EPS. Amgen's revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. UBS Group lifted their target price on shares of Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Piper Sandler reaffirmed an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. Mizuho lifted their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Bank of America lifted their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $307.27.

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.