St. Louis Trust Co Reduces Position in Amgen Inc. (NASDAQ:AMGN)

St. Louis Trust Co decreased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 82.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 649 shares of the medical research company's stock after selling 3,135 shares during the period. St. Louis Trust Co's holdings in Amgen were worth $202,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Capital World Investors boosted its stake in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. Norges Bank acquired a new stake in Amgen during the 4th quarter worth $1,541,991,000. GAMMA Investing LLC raised its position in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after buying an additional 3,653,205 shares during the last quarter. Capital International Investors raised its position in Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after buying an additional 3,495,503 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Amgen by 52.7% during the 4th quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company's stock worth $858,020,000 after buying an additional 1,135,884 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMGN shares. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Mizuho increased their price target on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Piper Sandler restated an "overweight" rating and set a $328.00 target price on shares of Amgen in a report on Friday, June 27th. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Guggenheim began coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Two investment 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. Based on data from MarketBeat.com, Amgen has a consensus rating of "Hold" and a consensus price target of $307.82.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 completion of the sale, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.76% of the company's stock.

Amgen Stock Down 1.2%

Shares of NASDAQ:AMGN traded down $3.49 on Friday, reaching $294.76. The company had a trading volume of 1,967,651 shares, compared to its average volume of 2,842,923. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm's 50 day simple moving average is $285.90 and its 200-day simple moving average is $289.35. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The firm has a market capitalization of $158.50 billion, a PE ratio of 26.89, a PEG ratio of 2.66 and a beta of 0.49.

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

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.