Amgen Inc. (NASDAQ:AMGN) Shares Sold by Trust Point Inc.

Trust Point Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 40.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,318 shares of the medical research company's stock after selling 897 shares during the period. Trust Point Inc.'s holdings in Amgen were worth $411,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ascent Wealth Partners LLC lifted its position in Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock valued at $2,352,000 after buying an additional 64 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its stake in shares of Amgen by 242.2% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock valued at $6,255,000 after purchasing an additional 16,985 shares during the period. Fisher Asset Management LLC raised its stake in shares of Amgen by 285.4% during the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock valued at $102,820,000 after purchasing an additional 292,137 shares during the period. Aire Advisors LLC raised its stake in shares of Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock valued at $3,461,000 after purchasing an additional 2,762 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of Amgen during the fourth quarter valued at approximately $3,531,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. Guggenheim began coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target for the company. UBS Group reaffirmed a "neutral" rating and issued a $315.00 price objective (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Piper Sandler reduced their price objective on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Finally, Mizuho upped their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $309.22.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is owned by corporate insiders.

Amgen Price Performance

NASDAQ AMGN opened at $295.56 on Tuesday. The stock's 50-day moving average price is $281.64 and its two-hundred day moving average price is $285.75. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a market cap of $158.92 billion, a PE ratio of 39.15, a PEG ratio of 2.63 and a beta of 0.51. 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 posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.96 EPS. On average, analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

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.

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