Central Bank & Trust Co. Cuts Position in Amgen Inc. (NASDAQ:AMGN)

Central Bank & Trust Co. reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 8.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 24,761 shares of the medical research company's stock after selling 2,160 shares during the period. Amgen makes up 1.3% of Central Bank & Trust Co.'s investment portfolio, making the stock its 22nd largest holding. Central Bank & Trust Co.'s holdings in Amgen were worth $7,714,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Lloyd Advisory Services LLC. purchased a new stake in Amgen during the 1st quarter valued at approximately $215,000. Park Avenue Securities LLC raised its stake in shares of Amgen by 12.4% during the first quarter. Park Avenue Securities LLC now owns 39,064 shares of the medical research company's stock worth $12,170,000 after purchasing an additional 4,320 shares during the last quarter. KMG Fiduciary Partners LLC lifted its holdings in shares of Amgen by 1.3% during the first quarter. KMG Fiduciary Partners LLC now owns 7,157 shares of the medical research company's stock worth $2,230,000 after purchasing an additional 93 shares during the period. City Center Advisors LLC purchased a new position in Amgen in the 1st quarter valued at $223,000. Finally, Miracle Mile Advisors LLC increased its stake in Amgen by 46.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,791 shares of the medical research company's stock valued at $2,739,000 after buying an additional 2,775 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Johnson Rice set a $294.00 price objective on shares of Amgen in a research report on Wednesday, March 5th. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Royal Bank of Canada cut their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Mizuho lifted 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. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Amgen currently has a consensus rating of "Hold" and a consensus target price of $309.22.

Amgen Trading Up 0.3%

Shares of NASDAQ:AMGN traded up $0.90 during trading on Monday, reaching $291.23. The stock had a trading volume of 488,785 shares, compared to its average volume of 2,804,525. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock has a market cap of $156.60 billion, a P/E ratio of 38.48, a PEG ratio of 2.63 and a beta of 0.51. The business has a fifty day moving average price of $281.57 and a 200-day moving average price of $285.39. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

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, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the prior year, the company posted $3.96 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were 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 now owns 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This 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. Insiders own 0.76% of the company's stock.

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.