Fragasso Financial Advisors Inc Sells 6,850 Shares of Amgen Inc. (NASDAQ:AMGN)

Fragasso Financial Advisors Inc reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 26.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,620 shares of the medical research company's stock after selling 6,850 shares during the quarter. Amgen makes up about 0.4% of Fragasso Financial Advisors Inc's portfolio, making the stock its 26th biggest holding. Fragasso Financial Advisors Inc's holdings in Amgen were worth $5,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Ascent Wealth Partners LLC boosted its stake in Amgen by 0.7% in the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock valued at $2,352,000 after purchasing an additional 64 shares during the period. ICICI Prudential Asset Management Co Ltd boosted its stake in Amgen by 242.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock valued at $6,255,000 after purchasing an additional 16,985 shares during the period. Fisher Asset Management LLC lifted its position in shares of Amgen by 285.4% during the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock valued at $102,820,000 after acquiring an additional 292,137 shares during the period. Aire Advisors LLC lifted its position in shares of Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock valued at $3,461,000 after acquiring an additional 2,762 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Amgen during the 4th quarter valued at $3,531,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMGN shares. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Mizuho upped their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Bank of America upped their target price on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. UBS Group reiterated a "neutral" rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Finally, Piper Sandler cut their target price on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research report 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average target price of $309.22.

Amgen Trading Up 1.3%

Shares of AMGN stock traded up $3.63 on Thursday, hitting $290.64. The company had a trading volume of 668,867 shares, compared to its average volume of 2,798,412. The firm has a market cap of $156.28 billion, a P/E ratio of 38.50, a P/E/G ratio of 2.63 and a beta of 0.51. The stock's 50-day moving average is $282.39 and its two-hundred day moving average is $285.31. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

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 the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.96 earnings per share. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

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.