Kingsview Wealth Management LLC Sells 7,001 Shares of Amgen Inc. (NASDAQ:AMGN)

Kingsview Wealth Management LLC trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,585 shares of the medical research company's stock after selling 7,001 shares during the quarter. Kingsview Wealth Management LLC's holdings in Amgen were worth $12,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. Brighton Jones LLC grew its position in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of Amgen by 35.0% in the 4th quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock worth $471,000 after buying an additional 468 shares during the last quarter. Madison Investment Advisors LLC bought a new stake in shares of Amgen in the 4th quarter worth approximately $1,948,000. Cozad Asset Management Inc. grew its position in shares of Amgen by 5.9% in the 4th quarter. Cozad Asset Management Inc. now owns 1,795 shares of the medical research company's stock worth $468,000 after buying an additional 100 shares during the last quarter. Finally, Mystic Asset Management Inc. grew its position in shares of Amgen by 75.7% in the 4th quarter. Mystic Asset Management Inc. now owns 1,267 shares of the medical research company's stock worth $330,000 after buying an additional 546 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMGN. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective on the stock. Finally, Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $307.82.

Amgen Stock Down 1.2%

Shares of AMGN stock traded down $3.49 during mid-day trading on Friday, hitting $294.76. The company's stock had a trading volume of 1,967,651 shares, compared to its average volume of 2,836,513. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The business has a 50-day moving average price of $285.32 and a 200 day moving average price of $288.91. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market cap of $158.49 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.70 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping 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 firm had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter in the previous year, the business earned $3.96 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. Research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the company'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 sale, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.76% 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.