WASHINGTON TRUST Co Sells 3,139 Shares of Amgen Inc. (NASDAQ:AMGN)

WASHINGTON TRUST Co lowered its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 18.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,043 shares of the medical research company's stock after selling 3,139 shares during the period. WASHINGTON TRUST Co's holdings in Amgen were worth $4,375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Beck Mack & Oliver LLC grew its position in shares of Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after purchasing an additional 34 shares during the last quarter. Continuum Advisory LLC boosted its stake in Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock valued at $1,343,000 after purchasing an additional 35 shares during the period. Octavia Wealth Advisors LLC boosted its stake in Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock valued at $759,000 after purchasing an additional 35 shares during the period. Trillium Asset Management LLC grew its holdings in Amgen by 4.2% in the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock valued at $237,000 after buying an additional 37 shares during the last quarter. Finally, Affinity Capital Advisors LLC increased its position in Amgen by 4.5% in the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

Amgen Price Performance

Shares of NASDAQ AMGN traded up $2.08 during mid-day trading on Monday, hitting $279.21. 2,963,521 shares of the stock were exchanged, compared to its average volume of 2,830,841. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The stock's fifty day simple moving average is $281.02 and its two-hundred day simple moving average is $286.19. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The company has a market cap of $150.13 billion, a P/E ratio of 25.48, a PEG ratio of 2.51 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly 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. The firm had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business's revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $3.96 EPS. As a group, analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMGN. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Guggenheim initiated coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $328.00 price objective on shares of Amgen in a research report on Friday. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and a consensus target price of $307.82.

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.