Woodard & Co. Asset Management Group Inc. ADV Sells 1,157 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• Woodard & Co. Asset Management Group Inc. ADV reduced its stake in Amgen Inc. by 11.0% to 9,337 shares, valued at approximately $2.91 million.
• Significant institutional activity includes Capital World Investors increasing their holdings by 1,292.0% and GAMMA Investing LLC by 43,573.5%, reflecting strong investor interest in Amgen.
• As of now, Amgen has a consensus rating of "Hold" from analysts, with an average price target of $307.27.

Woodard & Co. Asset Management Group Inc. ADV decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,337 shares of the medical research company's stock after selling 1,157 shares during the quarter. Woodard & Co. Asset Management Group Inc. ADV's holdings in Amgen were worth $2,909,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Beck Mack & Oliver LLC grew its holdings in shares of Amgen by 0.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock worth $1,205,000 after purchasing an additional 34 shares during the last quarter. Continuum Advisory LLC grew its holdings in shares of Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after purchasing an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC grew its holdings in shares of Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after purchasing an additional 35 shares during the last quarter. Affinity Capital Advisors LLC grew its holdings in shares of Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after purchasing an additional 37 shares during the last quarter. Finally, Accredited Investors Inc. grew its holdings in shares of Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by corporate insiders.

Amgen Stock Down 1.8%

NASDAQ:AMGN traded down $5.44 on Thursday, hitting $295.93. The stock had a trading volume of 676,989 shares, compared to its average volume of 2,901,718. The business's fifty day moving average is $291.07 and its 200 day moving average is $291.49. The company has a market cap of $159.12 billion, a PE ratio of 26.98, a P/E/G ratio of 2.63 and a beta of 0.49. The company has a quick ratio of 0.88, a current ratio of 1.17 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.

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 for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business 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 firm earned $3.96 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on AMGN shares. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Bank of America increased their target price on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Finally, Mizuho increased their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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.