Bank of New York Mellon Corp Sells 131,068 Shares of Amgen Inc. (NASDAQ:AMGN)

Bank of New York Mellon Corp lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,450,097 shares of the medical research company's stock after selling 131,068 shares during the period. Bank of New York Mellon Corp owned 0.83% of Amgen worth $1,386,428,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares during the period. Proficio Capital Partners LLC grew its position in Amgen by 35.0% during the fourth quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock worth $471,000 after buying an additional 468 shares in the last quarter. Ethos Financial Group LLC increased its stake in Amgen by 133.8% in the 4th quarter. Ethos Financial Group LLC now owns 1,613 shares of the medical research company's stock worth $420,000 after acquiring an additional 923 shares during the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of Amgen by 28.5% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,382 shares of the medical research company's stock valued at $3,227,000 after acquiring an additional 2,748 shares in the last quarter. Finally, Welch & Forbes LLC boosted its position in shares of Amgen by 0.3% during the 4th quarter. Welch & Forbes LLC now owns 25,625 shares of the medical research company's stock valued at $6,679,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Up 0.5%

Shares of AMGN traded up $1.40 during mid-day trading on Friday, reaching $298.25. The company had a trading volume of 1,518,529 shares, compared to its average volume of 2,849,124. The company has a market capitalization of $160.37 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.70 and a beta of 0.49. The firm has a 50-day moving average price of $282.47 and a 200 day moving average price of $286.79. 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 8.70, a quick ratio of 0.88 and a current ratio of 1.17.

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

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's 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 transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Company insiders own 0.76% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on AMGN shares. Cantor Fitzgerald restated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Mizuho raised their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. UBS Group reiterated a "neutral" rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Finally, Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.