Parr Mcknight Wealth Management Group LLC Sells 883 Shares of Amgen Inc. (NASDAQ:AMGN)

Parr Mcknight Wealth Management Group LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,493 shares of the medical research company's stock after selling 883 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Amgen were worth $4,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AMGN. Brighton Jones LLC boosted its position in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares during the period. Proficio Capital Partners LLC boosted its position in Amgen by 35.0% during the fourth quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock worth $471,000 after purchasing an additional 468 shares during the period. AlphaQuest LLC raised its holdings in Amgen by 3.9% in the 4th quarter. AlphaQuest LLC now owns 1,993 shares of the medical research company's stock worth $519,000 after acquiring an additional 74 shares during the period. Pzena Investment Management LLC bought a new stake in shares of Amgen in the fourth quarter valued at approximately $209,000. Finally, Summit X LLC acquired a new stake in Amgen during the fourth quarter worth about $455,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Guggenheim initiated coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target for the company. Mizuho increased their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. 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. Finally, UBS Group reiterated a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. 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 company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $307.82.

Amgen Stock Up 1.3%

Shares of AMGN stock traded up $3.85 on Thursday, hitting $300.37. The stock had a trading volume of 1,925,680 shares, compared to its average volume of 2,847,690. The stock has a market cap of $161.51 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The business has a 50 day moving average of $282.95 and a 200 day moving average of $287.50. 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 posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.96 EPS. As a group, analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the 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 sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.76% of the company's stock.

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.