First Affirmative Financial Network Trims Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

First Affirmative Financial Network decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 40.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,069 shares of the medical research company's stock after selling 1,398 shares during the period. First Affirmative Financial Network's holdings in Amgen were worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Capital World Investors raised its stake in Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after acquiring an additional 6,029,058 shares during the last quarter. Norges Bank purchased a new position in Amgen in the 4th quarter worth $1,541,991,000. GAMMA Investing LLC raised its stake in Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the last quarter. Capital International Investors raised its stake in Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after acquiring an additional 3,495,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after acquiring an additional 2,672,975 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank of Canada reduced their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. UBS Group reiterated a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Finally, Piper Sandler reduced their price objective on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $309.22.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business'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 transaction of $434,520.00. Following the transaction, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.76% of the company's stock.

Amgen Trading Up 1.1%

AMGN stock opened at $290.33 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock has a market cap of $156.11 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 2.63 and a beta of 0.51. The business's 50-day moving average is $281.57 and its 200 day moving average is $285.44.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same period in the previous year, the firm posted $3.96 EPS. Amgen's revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS 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.

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