Financial Counselors Inc. Sells 2,656 Shares of Amgen Inc. (NASDAQ:AMGN)

Financial Counselors Inc. cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 79,843 shares of the medical research company's stock after selling 2,656 shares during the quarter. Financial Counselors Inc.'s holdings in Amgen were worth $24,875,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. First Pacific Financial boosted its stake in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the last quarter. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in Amgen by 66.2% in the 4th 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 during the period. Atala Financial Inc bought a new position in Amgen in the 4th quarter valued at about $34,000. Finally, Global Wealth Strategies & Associates grew its position in shares of Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after purchasing an additional 125 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Activity at Amgen

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 value of $434,520.00. Following the completion of the sale, the senior vice president directly owned 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 company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on AMGN. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target on the stock. 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, Morgan Stanley restated an "equal weight" rating 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 issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $307.82.

Amgen Stock Up 1.3%

AMGN stock traded up $3.85 during trading on Thursday, reaching $300.37. 1,925,680 shares of the stock were exchanged, compared to its average volume of 2,845,077. The firm's 50 day moving average is $282.95 and its 200 day moving average is $287.50. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The firm has a market cap of $161.51 billion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 2.69 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly 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 return on equity of 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the business earned $3.96 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

About Amgen

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.