LVM Capital Management Ltd. MI Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

LVM Capital Management Ltd. MI trimmed its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,971 shares of the medical research company's stock after selling 9,700 shares during the period. Amgen makes up approximately 1.1% of LVM Capital Management Ltd. MI's portfolio, making the stock its 29th biggest holding. LVM Capital Management Ltd. MI's holdings in Amgen were worth $9,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new position in shares of Amgen during the fourth quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings 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 worth $33,000 after acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Amgen in the 4th quarter valued at $34,000. Finally, Atala Financial Inc bought a new position in shares of Amgen during the 4th quarter valued at $34,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Up 0.4%

Amgen stock traded up $1.10 during trading hours on Tuesday, hitting $289.57. 2,299,170 shares of the stock traded hands, compared to its average volume of 2,803,092. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The firm's 50-day moving average price is $283.12 and its two-hundred day moving average price is $285.27. 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 company has a market cap of $155.70 billion, a PE ratio of 38.35, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results 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. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period in the previous year, the company posted $3.96 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. On average, research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Analysts Set New Price Targets

AMGN has been the subject of several recent research reports. Piper Sandler lowered their price target on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Bank of America boosted their price objective on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada dropped their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $309.22.

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.