Lifeworks Advisors LLC Has $2.04 Million Position in Amgen Inc. (NASDAQ:AMGN)

Lifeworks Advisors LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 71.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,532 shares of the medical research company's stock after selling 16,173 shares during the quarter. Lifeworks Advisors LLC's holdings in Amgen were worth $2,035,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Capital World Investors increased its position in Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the last quarter. Norges Bank purchased a new position in Amgen in the fourth quarter worth approximately $1,541,991,000. GAMMA Investing LLC lifted its position in shares of Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after buying an additional 3,653,205 shares during the last quarter. Capital International Investors lifted its position in shares of Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after buying an additional 3,495,503 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Amgen by 52.7% during the 4th quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company's stock worth $858,020,000 after buying an additional 1,135,884 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president owned 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Amgen Price Performance

Shares of AMGN traded down $1.97 during mid-day trading on Friday, hitting $306.58. The company's stock had a trading volume of 1,451,093 shares, compared to its average volume of 1,935,961. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $340.89. The firm has a 50-day moving average price of $289.39 and a 200 day moving average price of $290.70. The stock has a market capitalization of $164.85 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 2.67 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $3.96 earnings per share. On average, research analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on AMGN shares. Bank of America upped their price target on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research report on Wednesday. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Finally, UBS Group upped their price target on shares of Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a research report on Monday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $307.27.

Amgen Company 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.