Rhumbline Advisers Sells 23,183 Shares of Amgen Inc. (NASDAQ:AMGN)

Rhumbline Advisers decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 979,639 shares of the medical research company's stock after selling 23,183 shares during the period. Rhumbline Advisers owned 0.18% of Amgen worth $305,206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Vanguard Group Inc. increased its stake in shares of Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock valued at $13,741,409,000 after acquiring an additional 339,522 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the period. Geode Capital Management LLC grew its stake in shares of Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock valued at $3,245,881,000 after acquiring an additional 352,143 shares in the last quarter. Capital International Investors lifted its stake in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after acquiring an additional 3,495,503 shares in the last quarter. Finally, Capital World Investors grew its stake in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMGN shares. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a research report on Wednesday, February 5th. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Mizuho raised 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. Bank of America raised their price target on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Finally, Guggenheim began coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $309.22.

Amgen Trading Up 1.3%

NASDAQ AMGN traded up $3.70 on Thursday, reaching $290.71. The company had a trading volume of 640,709 shares, compared to its average volume of 2,798,145. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The stock has a market cap of $156.32 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 2.63 and a beta of 0.51. The stock's 50 day moving average is $282.39 and its 200-day moving average is $285.31.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter in the prior year, the company earned $3.96 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

About Amgen

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.