Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $19.46 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,469 shares of the medical research company's stock after selling 2,368 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Amgen were worth $19,462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Diversified Trust Co increased its holdings in shares of Amgen by 4.8% during the first quarter. Diversified Trust Co now owns 38,635 shares of the medical research company's stock valued at $12,037,000 after acquiring an additional 1,780 shares in the last quarter. Beacon Financial Advisory LLC increased its stake in Amgen by 11.4% during the 1st quarter. Beacon Financial Advisory LLC now owns 861 shares of the medical research company's stock valued at $268,000 after purchasing an additional 88 shares in the last quarter. PDS Planning Inc increased its stake in Amgen by 21.4% during the 1st quarter. PDS Planning Inc now owns 2,788 shares of the medical research company's stock valued at $869,000 after purchasing an additional 492 shares in the last quarter. Bank of Stockton raised its holdings in Amgen by 7.0% during the first quarter. Bank of Stockton now owns 1,139 shares of the medical research company's stock worth $355,000 after buying an additional 75 shares during the last quarter. Finally, DLK Investment Management LLC lifted its stake in shares of Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock valued at $6,384,000 after buying an additional 1,387 shares in the last quarter. Institutional investors own 76.50% of the company's stock.

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 value of $434,520.00. Following the completion of the transaction, the senior vice president now directly owns 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.76% of the company's stock.

Amgen Trading Down 0.4%

Shares of AMGN stock opened at $279.11 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The firm has a market cap of $150.08 billion, a P/E ratio of 25.47, a PEG ratio of 2.54 and a beta of 0.51. The company has a 50 day moving average of $281.02 and a 200-day moving average of $286.01. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $8.15 billion during 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%. Amgen's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.96 earnings per share. Sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Analyst Ratings Changes

AMGN has been the subject of several recent research reports. UBS Group reissued a "neutral" rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Guggenheim began coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Piper Sandler decreased their price target on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $309.22.

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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