Amgen Inc. (NASDAQ:AMGN) Shares Sold by SNS Financial Group LLC

SNS Financial Group LLC decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 32.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,535 shares of the medical research company's stock after selling 1,677 shares during the quarter. SNS Financial Group LLC's holdings in Amgen were worth $1,101,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. First Pacific Financial increased its holdings in shares of 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 acquiring an additional 67 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in Amgen in the 4th quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after purchasing an additional 51 shares during the period. Global Wealth Strategies & Associates boosted its stake in Amgen by 1,388.9% in the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock valued at $42,000 after purchasing an additional 125 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in Amgen in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Activity at Amgen

In other 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 transaction of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at $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 available at the SEC website. 0.76% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Finally, Royal Bank Of Canada cut their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Amgen presently has a consensus rating of "Hold" and an average target price of $307.82.

Amgen Stock Down 1.2%

Shares of AMGN traded down $3.49 during mid-day trading on Friday, reaching $294.76. The company had a trading volume of 1,967,651 shares, compared to its average volume of 2,842,923. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The firm has a 50-day moving average price of $285.90 and a 200 day moving average price of $289.35. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a market capitalization of $158.50 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 2.66 and a beta of 0.49.

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, beating 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 return on equity of 176.11% and a net margin of 17.39%. The company's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.96 EPS. On average, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

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.