Greenwood Capital Associates LLC Sells 19,895 Shares of Amgen Inc. (NASDAQ:AMGN)

Greenwood Capital Associates LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 49.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,256 shares of the medical research company's stock after selling 19,895 shares during the quarter. Greenwood Capital Associates LLC's holdings in Amgen were worth $6,311,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC bought a new position in Amgen in the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in Amgen by 66.2% in the 4th 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. Synergy Investment Management LLC bought a new position in Amgen in the 4th quarter worth approximately $34,000. Finally, Atala Financial Inc bought a new position in Amgen in the 4th quarter worth approximately $34,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares of the company's stock, valued at $2,364,368.16. This trade 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 is available through this link. Insiders own 0.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMGN shares. Piper Sandler dropped their price target on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Finally, Bank of America increased 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. Two investment 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, the company currently has an average rating of "Hold" and an average price target of $309.22.

Amgen Trading Up 1.9%

AMGN stock traded up $5.48 during midday trading on Thursday, reaching $297.29. The company's stock had a trading volume of 2,159,678 shares, compared to its average volume of 2,814,397. The firm has a market capitalization of $159.85 billion, a price-to-earnings ratio of 39.38, a PEG ratio of 2.63 and a beta of 0.51. 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 1 year low of $253.30 and a 1 year high of $346.85. The stock has a fifty day simple moving average of $280.88 and a two-hundred day simple moving average of $285.46.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.96 earnings per share. On average, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current 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.