Amgen Inc. (NASDAQ:AMGN) Stake Reduced by First National Trust Co

Key Points

• First National Trust Co reduced its holdings in Amgen Inc. by 7.7%, owning 52,671 shares valued at $16.41 million as of the latest quarter.
• Amgen reported earnings of $4.90 per share for the last quarter, beating analysts' expectations of $4.18, with revenues reaching $8.15 billion.
• The stock has a consensus rating of "Hold" with a target price of $307.27, reflecting a mix of ratings from analysts, including two sell ratings and eight buy ratings.

First National Trust Co lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,671 shares of the medical research company's stock after selling 4,395 shares during the quarter. First National Trust Co's holdings in Amgen were worth $16,410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Beck Mack & Oliver LLC increased its stake in Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock valued at $1,205,000 after purchasing an additional 34 shares during the last quarter. Continuum Advisory LLC grew its position in shares of Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after acquiring an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC grew its position in shares of Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after acquiring an additional 35 shares during the last quarter. Affinity Capital Advisors LLC grew its position in shares of Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after acquiring an additional 37 shares during the last quarter. Finally, Accredited Investors Inc. grew its position in shares of Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research 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. Citigroup increased their price target on Amgen from $300.00 to $305.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Bank of America increased their price target on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Finally, Royal Bank Of Canada reduced their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amgen presently has an average rating of "Hold" and an average target price of $307.27.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $6.27 during trading on Thursday, reaching $295.10. The stock had a trading volume of 2,251,875 shares, compared to its average volume of 1,671,367. Amgen Inc. has a one year low of $253.30 and a one year high of $340.89. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market cap of $158.68 billion, a PE ratio of 26.93, a P/E/G ratio of 2.61 and a beta of 0.49. The firm's 50 day moving average price is $291.53 and its two-hundred day moving average price is $291.66.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the previous year, the business earned $3.96 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. On average, research 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 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 value of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.76% of the company's stock.

Amgen Company 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.