First Heartland Consultants Inc. Sells 1,462 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• First Heartland Consultants Inc. significantly reduced its stake in Amgen by 60.5% during the first quarter, holding 955 shares valued at $298,000 as of their latest SEC filing.
• In the most recent analyst updates, Citigroup raised its price target for Amgen from $300 to $305 and assigned a "neutral" rating, highlighting a generally cautious outlook among analysts.
• Amgen reported a 9.4% increase in revenue year-over-year, reaching $8.15 billion, while earnings per share exceeded consensus estimates at $4.90, indicating strong financial performance.

First Heartland Consultants Inc. lessened its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 60.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 955 shares of the medical research company's stock after selling 1,462 shares during the quarter. First Heartland Consultants Inc.'s holdings in Amgen were worth $298,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. First Pacific Financial raised its position in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after acquiring an additional 67 shares during the period. Pinney & Scofield Inc. acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $26,000. Ritter Daniher Financial Advisory LLC DE raised its position in shares of 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. Global Wealth Strategies & Associates raised its position in shares of Amgen by 1,388.9% in the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock valued at $42,000 after acquiring an additional 125 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Amgen in the 4th quarter valued at approximately $36,000. Institutional investors own 76.50% of the company's stock.

Amgen Stock Down 0.6%

Shares of NASDAQ:AMGN traded down $1.97 during midday trading on Friday, hitting $306.58. The stock had a trading volume of 1,451,093 shares, compared to its average volume of 1,863,810. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $340.89. 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 business's 50-day simple moving average is $289.39 and its 200-day simple moving average is $291.07. The company has a market cap of $164.85 billion, a P/E ratio of 27.97, a PEG ratio of 2.65 and a beta of 0.49.

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, 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 business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same period last year, the business earned $3.96 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMGN. Citigroup increased their price target on shares of Amgen from $300.00 to $305.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Mizuho raised their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Guggenheim started coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, UBS Group raised their target price on shares of Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $307.27.

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.