Bank of New York Mellon Corp Has $1.39 Billion Position in Amgen Inc. (NASDAQ:AMGN)

Bank of New York Mellon Corp lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund 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.

Several other large investors also recently made changes to their positions in AMGN. Brighton Jones LLC boosted its holdings in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Proficio Capital Partners LLC raised its position in Amgen by 35.0% in the 4th quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock valued at $471,000 after buying an additional 468 shares during the last quarter. Ethos Financial Group LLC raised its position 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 valued at $420,000 after buying an additional 923 shares during the last quarter. E Fund Management Co. Ltd. raised its position in 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 buying an additional 2,748 shares during the last quarter. Finally, Welch & Forbes LLC raised its position in Amgen by 0.3% in the 4th quarter. Welch & Forbes LLC now owns 25,625 shares of the medical research company's stock valued at $6,679,000 after buying an additional 70 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president owned 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.76% of the company's stock.

Amgen Price Performance

Shares of Amgen stock traded up $1.40 during trading on Friday, reaching $298.25. 1,518,529 shares of the company's stock were exchanged, compared to its average volume of 2,849,124. 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 1-year low of $253.30 and a 1-year high of $346.85. The company has a market cap of $160.37 billion, a P/E ratio of 27.21, a PEG ratio of 2.70 and a beta of 0.49. The firm's 50-day moving average price is $282.47 and its 200 day moving average price is $286.99.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly 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 during the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter in the previous year, the firm earned $3.96 EPS. Amgen's revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Wall Street Analyst Weigh In

AMGN has been the subject of several research analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Mizuho boosted their price target on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Finally, UBS Group restated a "neutral" rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Amgen currently has an average rating of "Hold" and a consensus target price of $307.82.

Amgen Company 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.