Grassi Investment Management cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 43.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,600 shares of the medical research company's stock after selling 2,000 shares during the period. Grassi Investment Management's holdings in Amgen were worth $810,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in AMGN. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the fourth quarter worth $25,000. Pinney & Scofield Inc. bought a new position in Amgen during the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after buying an additional 51 shares during the period. Synergy Investment Management LLC acquired a new stake in shares of Amgen in the fourth quarter valued at about $34,000. Finally, Atala Financial Inc bought a new position in shares of Amgen during the fourth quarter worth about $34,000. 76.50% of the stock is owned by institutional investors.
Analysts Set New Price Targets
AMGN has been the topic of several analyst reports. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Cantor Fitzgerald assumed coverage on shares of Amgen in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price objective for the company. Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, UBS Group reissued a "neutral" rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Amgen has an average rating of "Hold" and a consensus target price of $309.22.
Get Our Latest Analysis on AMGN
Amgen Stock Up 1.1%
Shares of Amgen stock traded up $3.23 during trading hours on Friday, reaching $290.33. The company's stock had a trading volume of 1,996,092 shares, compared to its average volume of 2,806,485. The company has a market capitalization of $156.11 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51. The stock's fifty day simple moving average is $281.91 and its two-hundred day simple moving average is $285.36. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. 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 (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Amgen's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.96 earnings per share. On average, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.
About Amgen
(
Free Report)
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.
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