Amgen Inc. (NASDAQ:AMGN) Position Decreased by Core Alternative Capital

Core Alternative Capital lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 44.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,109 shares of the medical research company's stock after selling 4,029 shares during the quarter. Core Alternative Capital's holdings in Amgen were worth $1,592,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of 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 purchasing an additional 468 shares during the last quarter. Destination Wealth Management acquired a new position in Amgen in the fourth quarter worth about $386,000. Andra AP fonden increased its holdings in Amgen by 44.3% in the fourth quarter. Andra AP fonden now owns 40,400 shares of the medical research company's stock valued at $10,530,000 after buying an additional 12,400 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its stake in Amgen by 1.5% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 14,087 shares of the medical research company's stock valued at $3,672,000 after buying an additional 205 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

AMGN stock traded up $1.40 during trading on Friday, hitting $298.25. The company had a trading volume of 1,518,529 shares, compared to its average volume of 2,849,124. The business has a 50 day moving average of $282.47 and a 200 day moving average of $286.99. The firm has a market capitalization of $160.37 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 2.70 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. 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 released 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. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. Amgen's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.96 EPS. As a group, research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AMGN shares. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. UBS Group reaffirmed a "neutral" rating and issued a $315.00 price objective (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada decreased their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Amgen has a consensus rating of "Hold" and an average price target of $307.82.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is owned by company insiders.

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.