Nisa Investment Advisors LLC Has $51.21 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Nisa Investment Advisors LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,360 shares of the medical research company's stock after selling 6,308 shares during the period. Nisa Investment Advisors LLC's holdings in Amgen were worth $51,206,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new position in Amgen during the 4th quarter worth approximately $26,000. First Pacific Financial raised its holdings in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its holdings in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after purchasing an additional 51 shares during the last quarter. Atala Financial Inc bought a new stake in shares of Amgen in the 4th quarter valued at $34,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Amgen in the 4th quarter valued at $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of recent research reports. UBS Group restated a "neutral" rating and set a $315.00 price target (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $328.00 price objective on shares of Amgen in a report on Friday, June 27th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective on the stock. Finally, William Blair reaffirmed an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Two investment 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 company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $307.82.

Amgen Trading Up 0.3%

Shares of Amgen stock traded up $0.75 on Wednesday, hitting $297.75. The stock had a trading volume of 124,318 shares, compared to its average volume of 2,837,065. 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 stock's 50-day simple moving average is $282.83 and its two-hundred day simple moving average is $287.44. The stock has a market cap of $160.10 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 2.65 and a beta of 0.49. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

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

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.69% 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.

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