Parcion Private Wealth LLC Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Parcion Private Wealth LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 41.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,699 shares of the medical research company's stock after selling 1,188 shares during the period. Parcion Private Wealth LLC's holdings in Amgen were worth $529,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMGN. Pinney & Scofield Inc. purchased a new stake in Amgen in the fourth quarter worth approximately $26,000. First Pacific Financial lifted its stake in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its stake in Amgen by 66.2% in the fourth 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 period. Heck Capital Advisors LLC bought a new position in Amgen in the fourth quarter worth $36,000. Finally, Legacy Investment Solutions LLC raised its holdings in Amgen by 46.9% in the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after purchasing an additional 45 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Down 0.3%

Amgen stock traded down $0.77 during mid-day trading on Thursday, hitting $298.25. The company's stock had a trading volume of 1,724,736 shares, compared to its average volume of 2,839,989. The company has a 50 day moving average of $284.80 and a 200-day moving average of $288.65. The stock has a market cap of $160.37 billion, a PE ratio of 27.21, a P/E/G ratio of 2.70 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. 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 results 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 for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the prior year, the company earned $3.96 EPS. The business's revenue was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMGN. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Royal Bank Of Canada reduced their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Mizuho raised their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research report on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $307.82.

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.