Amgen Inc. (NASDAQ:AMGN) is China Universal Asset Management Co. Ltd.'s 9th Largest Position

China Universal Asset Management Co. Ltd. lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 65,481 shares of the medical research company's stock after selling 8,123 shares during the quarter. Amgen comprises approximately 1.9% of China Universal Asset Management Co. Ltd.'s holdings, making the stock its 9th largest position. China Universal Asset Management Co. Ltd.'s holdings in Amgen were worth $20,401,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock valued at $13,741,409,000 after buying an additional 339,522 shares during the period. Geode Capital Management LLC lifted its stake in shares of Amgen by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock worth $3,245,881,000 after acquiring an additional 352,143 shares during the period. Capital International Investors boosted its holdings in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares in the last quarter. Capital World Investors increased its stake in shares of Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares during the period. Finally, Northern Trust Corp raised its holdings in Amgen by 15.8% during the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock worth $1,676,183,000 after purchasing an additional 875,254 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred 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 owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.69% of the company's stock.

Amgen Stock Down 1.8%

Shares of Amgen stock traded down $5.29 during midday trading on Monday, hitting $292.95. The company's stock had a trading volume of 2,143,871 shares, compared to its average volume of 2,846,305. The firm has a market capitalization of $157.52 billion, a P/E ratio of 26.73, a PEG ratio of 2.70 and a beta of 0.49. The stock has a 50-day simple moving average of $282.47 and a 200-day simple moving average of $287.17. 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 Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last released its 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 company had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.96 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMGN. William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Royal Bank Of Canada lowered their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Piper Sandler reiterated an "overweight" rating and set a $328.00 price target on shares of Amgen in a research report on Friday, June 27th. Finally, UBS Group reiterated a "neutral" rating and set a $315.00 price target (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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.