Gries Financial LLC Sells 7,176 Shares of Amgen Inc. (NASDAQ:AMGN)

Gries Financial LLC reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 90.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 797 shares of the medical research company's stock after selling 7,176 shares during the quarter. Gries Financial LLC's holdings in Amgen were worth $248,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter valued at approximately $26,000. First Pacific Financial raised its holdings in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after buying an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its holdings 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 valued at $33,000 after buying an additional 51 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Amgen during the 4th quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC raised its holdings in Amgen by 46.9% during the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after purchasing an additional 45 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.69% of the stock is owned by corporate insiders.

Amgen Stock Up 0.4%

NASDAQ AMGN opened at $295.87 on Tuesday. The stock's 50 day moving average is $285.90 and its 200 day moving average is $289.56. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a market cap of $159.09 billion, a PE ratio of 27.00, a P/E/G ratio of 2.66 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the prior year, the firm posted $3.96 EPS. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on AMGN. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Guggenheim started coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Royal Bank Of Canada reduced their price target 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. Finally, UBS Group lifted their price target on shares of Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Amgen currently has an average rating of "Hold" and a consensus target price of $308.32.

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.

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