Country Club Bank Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

Country Club Bank trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 34.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,038 shares of the medical research company's stock after selling 14,770 shares during the quarter. Country Club Bank's holdings in Amgen were worth $8,606,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pinney & Scofield Inc. acquired a new position in shares of Amgen during the fourth quarter valued at about $26,000. First Pacific Financial increased its holdings in shares of Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its holdings in shares of Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after acquiring an additional 51 shares in the last quarter. Atala Financial Inc acquired a new position in shares of Amgen during the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Amgen during the fourth quarter valued at about $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMGN. Royal Bank Of Canada cut their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Mizuho increased their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Amgen presently has an average rating of "Hold" and a consensus target price of $307.82.

Amgen Price Performance

Shares of NASDAQ:AMGN traded down $5.10 during midday trading on Friday, reaching $295.27. 1,619,752 shares of the company's stock traded hands, compared to its average volume of 2,847,778. 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 $158.77 billion, a P/E ratio of 26.94, a PEG ratio of 2.67 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The company has a fifty day simple moving average of $283.56 and a two-hundred day simple moving average of $288.13.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the firm posted $3.96 EPS. The business's revenue was up 9.4% on a year-over-year basis. Equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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.