Amgen Inc. (NASDAQ:AMGN) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 306,720 shares of the medical research company's stock after selling 24,582 shares during the quarter. Fifth Third Bancorp owned 0.06% of Amgen worth $95,559,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AMGN. Beck Mack & Oliver LLC grew its stake in Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after acquiring an additional 34 shares during the period. Continuum Advisory LLC boosted its stake in Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after purchasing an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC boosted its stake in Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after purchasing an additional 35 shares during the last quarter. Zullo Investment Group Inc. boosted its stake in Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock worth $356,000 after purchasing an additional 37 shares during the last quarter. Finally, Trillium Asset Management LLC boosted its stake in Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Up 1.9%

Shares of AMGN stock traded up $5.48 during trading hours on Thursday, reaching $297.29. 2,159,678 shares of the stock were exchanged, compared to its average volume of 2,814,397. The business's fifty day moving average is $280.88 and its two-hundred day moving average is $285.46. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm has a market capitalization of $159.85 billion, a P/E ratio of 39.38, a P/E/G ratio of 2.63 and a beta of 0.51.

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

Analyst Ratings Changes

Several brokerages have issued reports on AMGN. Guggenheim began coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Bank of America lifted their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald began coverage on shares of Amgen in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 target price on the stock. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $309.22.

Insider Activity 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 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 directly owns 8,162 shares of the company's stock, valued at $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 available through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

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.