Appleton Partners Inc. MA Sells 11,898 Shares of Amgen Inc. (NASDAQ:AMGN)

Appleton Partners Inc. MA lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 64.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,569 shares of the medical research company's stock after selling 11,898 shares during the period. Appleton Partners Inc. MA's holdings in Amgen were worth $2,046,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. Centricity Wealth Management LLC bought a new position in shares of Amgen during the 4th quarter worth about $25,000. Pinney & Scofield Inc. acquired a new position in Amgen during the 4th quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in Amgen in the fourth quarter valued at approximately $34,000. Finally, Atala Financial Inc bought a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank Of Canada reduced their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research 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. Cantor Fitzgerald began coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 target price on the stock. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Finally, UBS Group reissued a "neutral" rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $309.22.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president now owns 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 legal filing with the SEC, which is available through this link. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Performance

Shares of Amgen stock traded down $16.89 on Monday, reaching $272.44. 5,762,613 shares of the company traded hands, compared to its average volume of 2,830,571. The company has a 50 day moving average of $281.82 and a 200 day moving average of $286.10. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The firm has a market capitalization of $146.49 billion, a PE ratio of 24.86, a PEG ratio of 2.62 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. During the same period last year, the business posted $3.96 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

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.