Amgen Inc. (NASDAQ:AMGN) Shares Sold by Forum Financial Management LP

Forum Financial Management LP lessened its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 350,754 shares of the medical research company's stock after selling 2,030 shares during the quarter. Amgen makes up about 1.8% of Forum Financial Management LP's portfolio, making the stock its 11th biggest holding. Forum Financial Management LP owned 0.07% of Amgen worth $109,277,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pinney & Scofield Inc. acquired a new stake in Amgen during the 4th quarter worth $26,000. First Pacific Financial increased its stake in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the period. Ritter Daniher Financial Advisory LLC DE increased its stake in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after purchasing an additional 51 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Amgen during the fourth quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC increased its stake in shares of Amgen by 46.9% during the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 0.76% of the company's stock.

Analyst Ratings Changes

AMGN has been the subject of a number of research analyst reports. William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Royal Bank Of Canada decreased their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Finally, Piper Sandler restated an "overweight" rating and set a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen presently has an average rating of "Hold" and a consensus target price of $307.82.

Amgen Price Performance

AMGN stock traded down $0.77 during trading on Thursday, hitting $298.25. The stock had a trading volume of 1,724,736 shares, compared to its average volume of 2,839,989. The company's 50 day moving average price is $284.80 and its two-hundred day moving average price is $288.65. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The stock has a market cap of $160.37 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.70 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17.

Amgen (NASDAQ:AMGN - Get Free Report) last announced 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 firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the company posted $3.96 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal 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.