Amgen Inc. (NASDAQ:AMGN) Stake Trimmed by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 39.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,760 shares of the medical research company's stock after selling 95,096 shares during the period. Amgen makes up approximately 1.9% of Daymark Wealth Partners LLC's portfolio, making the stock its 10th biggest position. Daymark Wealth Partners LLC's holdings in Amgen were worth $44,789,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Golden State Equity Partners grew its stake in Amgen by 1.0% during the first quarter. Golden State Equity Partners now owns 5,209 shares of the medical research company's stock worth $1,623,000 after purchasing an additional 54 shares during the period. Global Assets Advisory LLC boosted its holdings in shares of Amgen by 158.9% during the 1st quarter. Global Assets Advisory LLC now owns 2,775 shares of the medical research company's stock worth $813,000 after buying an additional 1,703 shares in the last quarter. Cornerstone Wealth Group LLC grew its position in shares of Amgen by 42.0% during the 1st quarter. Cornerstone Wealth Group LLC now owns 18,891 shares of the medical research company's stock worth $5,886,000 after buying an additional 5,584 shares during the period. Gerber LLC increased its stake in shares of Amgen by 13.6% in the 1st quarter. Gerber LLC now owns 1,365 shares of the medical research company's stock valued at $425,000 after acquiring an additional 163 shares in the last quarter. Finally, Win Advisors Inc. bought a new stake in shares of Amgen in the 1st quarter valued at $1,010,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMGN has been the topic of several research analyst reports. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Bank of America increased their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research report on Wednesday, March 5th. William Blair restated an "outperform" rating on shares of Amgen in a research note on Tuesday. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday. Finally, Mizuho increased their price target on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $309.22.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.76% of the company's stock.

Amgen Stock Down 0.4%

NASDAQ AMGN traded down $1.24 on Thursday, reaching $279.11. The company had a trading volume of 2,998,199 shares, compared to its average volume of 2,829,810. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The company's fifty day moving average is $280.99 and its 200 day moving average is $286.00. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock has a market capitalization of $150.08 billion, a P/E ratio of 25.47, a P/E/G ratio of 2.51 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the company posted $3.96 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen 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.