Arjuna Capital Sells 13,712 Shares of Amgen Inc. (NASDAQ:AMGN)

Arjuna Capital lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 64.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,532 shares of the medical research company's stock after selling 13,712 shares during the period. Arjuna Capital's holdings in Amgen were worth $2,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMGN. KPP Advisory Services LLC lifted its holdings in shares of Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after acquiring an additional 2,716 shares during the period. Advisor Resource Council bought a new stake in shares of Amgen during the 1st quarter worth approximately $1,331,000. DLK Investment Management LLC lifted its holdings in shares of Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after acquiring an additional 1,387 shares during the period. Aire Advisors LLC lifted its holdings in shares of Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock worth $3,461,000 after acquiring an additional 2,762 shares during the period. Finally, Mariner LLC lifted its holdings in shares of Amgen by 2.2% during the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock worth $238,316,000 after acquiring an additional 19,250 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMGN shares. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Royal Bank Of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $328.00 price objective on shares of Amgen in a research note on Friday, June 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $307.82.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on 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 directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Amgen Trading Down 1.7%

Shares of AMGN stock traded down $5.10 during trading hours on Friday, hitting $295.27. 1,619,752 shares of the company's stock traded hands, compared to its average volume of 2,847,778. The stock's 50 day simple moving average is $283.56 and its 200 day simple moving average is $288.13. The stock has a market cap of $158.77 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.67 and a beta of 0.49. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. 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 (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 net margin of 17.39% and a return on equity of 176.11%. The company had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same period in the prior year, the company posted $3.96 earnings per share. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS 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.