Arthur M. Cohen & Associates LLC Sells 1,810 Shares of Amgen Inc. (NASDAQ:AMGN)

Arthur M. Cohen & Associates LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 23.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,756 shares of the medical research company's stock after selling 1,810 shares during the quarter. Arthur M. Cohen & Associates LLC's holdings in Amgen were worth $1,793,000 at the end of the most recent quarter.

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

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $3.23 during mid-day trading on Friday, reaching $290.33. 1,996,092 shares of the company traded hands, compared to its average volume of 2,806,486. The company's 50 day moving average price is $281.91 and its 200-day moving average price is $285.36. The firm has a market cap of $156.11 billion, a PE ratio of 38.45, a PEG ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.96 earnings per share. On average, equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group reiterated a "neutral" rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Guggenheim assumed coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective on the stock. Mizuho lifted their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley restated 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 issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $309.22.

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.