International Assets Investment Management LLC Decreases Position in Amgen Inc. (NASDAQ:AMGN)

International Assets Investment Management LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,571 shares of the medical research company's stock after selling 21,694 shares during the period. International Assets Investment Management LLC's holdings in Amgen were worth $4,540,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pinney & Scofield Inc. acquired a new stake in Amgen during the 4th quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of 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 purchasing an additional 51 shares during the period. Synergy Investment Management LLC purchased a new stake in Amgen during the fourth quarter worth $34,000. Atala Financial Inc acquired a new stake in Amgen during the fourth quarter valued at $34,000. Finally, Heck Capital Advisors LLC purchased a new position in Amgen in the fourth quarter valued at $36,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.0%

AMGN traded up $2.86 during trading hours on Wednesday, reaching $280.35. The company's stock had a trading volume of 2,735,779 shares, compared to its average volume of 2,831,401. The stock has a market cap of $150.75 billion, a PE ratio of 25.58, a P/E/G ratio of 2.46 and a beta of 0.51. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The business's 50-day moving average is $281.03 and its 200-day moving average is $286.04.

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 business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.96 EPS. As a group, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Johnson Rice set a $294.00 target price on shares of Amgen in a research note on Wednesday, March 5th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday. William Blair reissued an "outperform" rating on shares of Amgen in a report on Tuesday. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler decreased their price target on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Amgen presently has an average rating of "Hold" and a consensus price target of $309.22.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.69% of the company's stock.

Amgen 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.