First Hawaiian Bank Lowers Position in Amgen Inc. (NASDAQ:AMGN)

First Hawaiian Bank lowered its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 39.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,294 shares of the medical research company's stock after selling 2,121 shares during the quarter. First Hawaiian Bank's holdings in Amgen were worth $1,026,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Beck Mack & Oliver LLC lifted its position 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 in the last quarter. Continuum Advisory LLC grew its stake in Amgen by 0.7% in the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock valued at $1,343,000 after buying an additional 35 shares during the last quarter. Blossom Wealth Management grew its stake in Amgen by 3.5% in the 4th quarter. Blossom Wealth Management now owns 1,090 shares of the medical research company's stock valued at $284,000 after buying an additional 37 shares during the last quarter. Zullo Investment Group Inc. grew its position in shares of 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 in the last quarter. Finally, Trillium Asset Management LLC boosted its position in shares of 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 acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Analysts Set New Price Targets

AMGN has been the topic of a number of research analyst reports. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. UBS Group restated a "neutral" rating and issued a $315.00 target price (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Piper Sandler dropped their target price on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald assumed coverage on shares of Amgen in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $309.22.

Amgen Trading Up 0.1%

Shares of Amgen stock traded up $0.37 during trading on Wednesday, reaching $289.94. The company's stock had a trading volume of 766,360 shares, compared to its average volume of 2,796,822. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a market cap of $155.90 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 2.63 and a beta of 0.51. The firm's 50-day moving average is $282.79 and its two-hundred day moving average is $285.30. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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 net margin of 12.24% and a return on equity of 176.32%. The company had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter in the prior year, the company earned $3.96 EPS. The firm's revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current 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.