Amgen Inc. (NASDAQ:AMGN) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,912 shares of the medical research company's stock after selling 984 shares during the quarter. Amgen makes up approximately 1.4% of Meyer Handelman Co.'s portfolio, making the stock its 17th largest holding. Meyer Handelman Co.'s holdings in Amgen were worth $41,097,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new position in shares of Amgen during the 4th quarter worth approximately $270,000. Brighton Jones LLC boosted its position in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Hantz Financial Services Inc. increased its position in Amgen by 347.2% during the fourth quarter. Hantz Financial Services Inc. now owns 4,740 shares of the medical research company's stock worth $1,236,000 after purchasing an additional 3,680 shares during the last quarter. Baader Bank Aktiengesellschaft raised its stake in Amgen by 258.5% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 2,764 shares of the medical research company's stock worth $720,000 after purchasing an additional 1,993 shares during the period. Finally, Mediolanum International Funds Ltd boosted its holdings in Amgen by 8.8% in the 4th quarter. Mediolanum International Funds Ltd now owns 24,539 shares of the medical research company's stock valued at $6,347,000 after purchasing an additional 1,989 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

AMGN stock traded down $0.90 on Wednesday, hitting $288.67. The company's stock had a trading volume of 903,363 shares, compared to its average volume of 2,797,220. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. 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 stock has a market cap of $155.22 billion, a price-to-earnings ratio of 38.23, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The firm has a 50 day moving average of $282.79 and a two-hundred day moving average of $285.30.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Cantor Fitzgerald began coverage on Amgen in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price target on the stock. Mizuho lifted their price objective on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Piper Sandler cut their price objective on Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.