Franklin Street Advisors Inc. NC Sells 21,974 Shares of Amgen Inc. (NASDAQ:AMGN)

Franklin Street Advisors Inc. NC decreased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 47.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,422 shares of the medical research company's stock after selling 21,974 shares during the quarter. Franklin Street Advisors Inc. NC's holdings in Amgen were worth $7,609,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Integral Investment Advisors Inc. bought a new stake in Amgen in the first quarter valued at about $291,000. Sarasin & Partners LLP grew its holdings in shares of Amgen by 4.7% during the first quarter. Sarasin & Partners LLP now owns 557,540 shares of the medical research company's stock worth $173,702,000 after buying an additional 25,241 shares in the last quarter. Moseley Investment Management Inc. grew its holdings in shares of Amgen by 4.8% during the first quarter. Moseley Investment Management Inc. now owns 6,435 shares of the medical research company's stock worth $2,005,000 after buying an additional 296 shares in the last quarter. Nepsis Inc. boosted its position in Amgen by 4.2% during the first quarter. Nepsis Inc. now owns 68,752 shares of the medical research company's stock valued at $21,420,000 after purchasing an additional 2,780 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Amgen by 348.5% during the first quarter. SG Americas Securities LLC now owns 47,798 shares of the medical research company's stock valued at $14,891,000 after purchasing an additional 37,140 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler dropped their price objective on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a report on Friday, May 16th. UBS Group restated a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Cantor Fitzgerald assumed coverage on Amgen in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price target on the stock. Johnson Rice set a $294.00 price target on Amgen in a research report on Wednesday, March 5th. Finally, Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $309.22.

Amgen Stock Down 0.7%

Shares of AMGN traded down $2.07 during midday trading on Friday, reaching $295.22. The stock had a trading volume of 2,191,182 shares, compared to its average volume of 2,820,660. The company's fifty day simple moving average is $281.33 and its two-hundred day simple moving average is $285.58. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The company has a market cap of $158.74 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last issued 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. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.96 earnings per share. Equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on 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 now directly owns 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is currently owned by company insiders.

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.