Amgen Inc. (NASDAQ:AMGN) Shares Sold by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,931 shares of the medical research company's stock after selling 911 shares during the quarter. Sonora Investment Management Group LLC's holdings in Amgen were worth $8,079,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in Amgen during the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen in the 4th quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC bought a new position in shares of Amgen in the fourth quarter valued at $34,000. Finally, Atala Financial Inc purchased a new position in shares of Amgen during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Performance

Shares of AMGN stock traded down $1.62 on Wednesday, hitting $291.81. The company had a trading volume of 1,827,452 shares, compared to its average volume of 2,812,318. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a market cap of $156.91 billion, a P/E ratio of 38.65, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a 50-day moving average price of $280.93 and a 200-day moving average price of $285.41.

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. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.96 EPS. As a group, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research analyst reports. Cantor Fitzgerald assumed coverage on Amgen in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price target for the company. Guggenheim assumed coverage on Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Finally, Piper Sandler decreased their price target on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of "Hold" and a consensus price target of $309.22.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company'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 sale, the senior vice president now owns 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 Securities & Exchange Commission, which is available through this link. 0.76% of the stock is currently owned by company insiders.

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.