Truist Financial Corp Sells 2,208 Shares of Amgen Inc. (NASDAQ:AMGN)

Truist Financial Corp reduced its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 646,187 shares of the medical research company's stock after selling 2,208 shares during the period. Truist Financial Corp owned 0.12% of Amgen worth $201,320,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Capital Investment Advisory Services LLC lifted its holdings in Amgen by 4.9% in the first quarter. Capital Investment Advisory Services LLC now owns 10,515 shares of the medical research company's stock worth $3,276,000 after buying an additional 489 shares during the period. Impax Asset Management Group plc lifted its holdings in Amgen by 3.6% in the first quarter. Impax Asset Management Group plc now owns 7,573 shares of the medical research company's stock worth $2,359,000 after buying an additional 260 shares during the period. Argyle Capital Management LLC lifted its holdings in Amgen by 1.0% in the first quarter. Argyle Capital Management LLC now owns 19,571 shares of the medical research company's stock worth $6,097,000 after buying an additional 185 shares during the period. Abel Hall LLC purchased a new stake in Amgen in the first quarter worth about $232,000. Finally, Strategic Blueprint LLC lifted its holdings in Amgen by 13.2% in the first quarter. Strategic Blueprint LLC now owns 7,006 shares of the medical research company's stock worth $2,183,000 after buying an additional 819 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Trading Down 1.9%

AMGN traded down $5.56 during trading hours on Monday, reaching $292.69. 1,263,449 shares of the company's stock traded hands, compared to its average volume of 2,842,994. The firm has a 50-day moving average price of $282.47 and a 200 day moving average price of $287.17. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The firm has a market capitalization of $157.38 billion, a PE ratio of 26.70, a PEG ratio of 2.70 and a beta of 0.49.

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

Analysts Set New Price Targets

AMGN has been the subject of several recent research reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. William Blair restated an "outperform" rating 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 previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Finally, Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued 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 assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $307.82.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The stock was 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 directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by company insiders.

Amgen 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.