Amgen Inc. (NASDAQ:AMGN) Shares Sold by JGP Wealth Management LLC

JGP Wealth Management LLC lowered its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,621 shares of the medical research company's stock after selling 11,849 shares during the quarter. Amgen comprises approximately 1.7% of JGP Wealth Management LLC's portfolio, making the stock its 14th biggest position. JGP Wealth Management LLC's holdings in Amgen were worth $13,278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMGN. Centricity Wealth Management LLC purchased a new position in Amgen in the 4th quarter worth about $25,000. Pinney & Scofield Inc. purchased a new stake in shares of Amgen during the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE increased its position in shares of 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 valued at $33,000 after purchasing an additional 51 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Amgen during the 4th quarter valued at about $34,000. Finally, Atala Financial Inc purchased a new stake in Amgen in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler reduced their target price on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Johnson Rice set a $294.00 price target on Amgen in a research note on Wednesday, March 5th. Royal Bank of Canada dropped their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Amgen currently has an average rating of "Hold" and a consensus price target of $309.22.

Amgen Trading Up 1.1%

NASDAQ:AMGN traded up $3.19 during midday trading on Thursday, hitting $290.20. 906,776 shares of the company traded hands, compared to its average volume of 3,107,016. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm's fifty day moving average is $282.39 and its 200-day moving average is $285.31. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm has a market capitalization of $156.04 billion, a P/E ratio of 38.44, a P/E/G ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts' consensus estimates 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 176.32% and a net margin of 12.24%. The business's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.96 earnings per share. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

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.