Apollon Wealth Management LLC Sells 1,043 Shares of Amgen Inc. (NASDAQ:AMGN)

Apollon Wealth Management LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,040 shares of the medical research company's stock after selling 1,043 shares during the quarter. Apollon Wealth Management LLC's holdings in Amgen were worth $6,555,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AMGN. Beck Mack & Oliver LLC lifted its holdings in Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after acquiring an additional 34 shares during the last quarter. Continuum Advisory LLC increased its holdings in Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after buying an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC increased its holdings in Amgen by 1.5% in the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after buying an additional 35 shares during the last quarter. Trillium Asset Management LLC increased its holdings in Amgen by 4.2% in the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after buying an additional 37 shares during the last quarter. Finally, Affinity Capital Advisors LLC grew its holdings in Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock valued at $246,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

Shares of NASDAQ:AMGN traded down $0.77 during midday trading on Thursday, reaching $298.25. The company's stock had a trading volume of 1,724,736 shares, compared to its average volume of 2,836,373. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market capitalization of $160.37 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.64 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The business's fifty day simple moving average is $284.80 and its 200-day simple moving average is $288.65.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its 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. 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 analyst estimates of $8.05 billion. During the same period last year, the company posted $3.96 earnings per share. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

AMGN has been the topic of several analyst reports. Mizuho increased their price target on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target on the stock. UBS Group reissued a "neutral" rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Finally, William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, twelve have issued 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, the company has an average rating of "Hold" and a consensus price target of $307.82.

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.