Sanibel Captiva Trust Company Inc. Cuts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Sanibel Captiva Trust Company Inc. lowered its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 77,769 shares of the medical research company's stock after selling 3,123 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Amgen were worth $24,229,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in Amgen by 348.5% in the first quarter. SG Americas Securities LLC now owns 47,798 shares of the medical research company's stock valued at $14,891,000 after buying an additional 37,140 shares in the last quarter. Dividend Assets Capital LLC raised its stake in Amgen by 19.6% during the first quarter. Dividend Assets Capital LLC now owns 38,402 shares of the medical research company's stock worth $11,964,000 after buying an additional 6,284 shares during the last quarter. Abacus FCF Advisors LLC grew its holdings in Amgen by 2.8% in the first quarter. Abacus FCF Advisors LLC now owns 19,033 shares of the medical research company's stock worth $5,930,000 after purchasing an additional 517 shares during the period. Walker Asset Management LLC grew its holdings in Amgen by 4.4% in the first quarter. Walker Asset Management LLC now owns 1,421 shares of the medical research company's stock worth $443,000 after purchasing an additional 60 shares during the period. Finally, Ibex Wealth Advisors grew its holdings in Amgen by 3.2% in the first quarter. Ibex Wealth Advisors now owns 27,835 shares of the medical research company's stock worth $8,672,000 after purchasing an additional 872 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Performance

Amgen stock traded down $1.62 during mid-day trading on Wednesday, reaching $291.81. The company's stock had a trading volume of 1,827,452 shares, compared to its average volume of 2,812,318. The company has a market capitalization of $156.91 billion, a P/E ratio of 38.65, a PEG ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm's fifty day moving average price is $280.93 and its two-hundred day moving average price is $285.41. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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 firm had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.96 earnings per share. Sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now directly owns 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Royal Bank of Canada reduced their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Cantor Fitzgerald started coverage on shares of Amgen in a report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price objective for the company. Piper Sandler reduced their price objective on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Finally, Bank of America lifted their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, twelve have issued 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, the company has an average rating of "Hold" and a consensus target price of $309.22.

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.