Amgen Inc. (NASDAQ:AMGN) Shares Sold by Archford Capital Strategies LLC

Archford Capital Strategies LLC reduced its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 51.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,815 shares of the medical research company's stock after selling 3,019 shares during the period. Archford Capital Strategies LLC's holdings in Amgen were worth $877,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Beck Mack & Oliver LLC grew its stake in shares of Amgen by 0.7% during 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 period. Continuum Advisory LLC increased its position 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 acquiring an additional 35 shares during the period. Octavia Wealth Advisors LLC increased its stake 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 valued at $759,000 after buying an additional 35 shares during the period. Trillium Asset Management LLC boosted its stake in shares of Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock valued at $237,000 after purchasing an additional 37 shares in the last quarter. Finally, Affinity Capital Advisors LLC boosted its position 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 in the last quarter. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of several research analyst reports. Royal Bank Of Canada dropped their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $328.00 price objective on shares of Amgen in a report on Friday. Mizuho raised their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $309.22.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen 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 transaction, the senior vice president now directly owns 8,162 shares of the company's stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.76% of the stock is owned by insiders.

Amgen Stock Down 0.7%

Shares of Amgen stock traded down $1.98 during trading on Friday, reaching $277.13. The company had a trading volume of 2,894,198 shares, compared to its average volume of 2,833,059. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The firm's fifty day moving average is $281.02 and its 200-day moving average is $286.01. The company has a market cap of $149.02 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 2.52 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 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the business posted $3.96 EPS. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts anticipate 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.