TCW Group Inc. Has $69.08 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Key Points

• TCW Group Inc. reduced its holdings in Amgen Inc. by 1,018 shares, owning 221,744 shares worth approximately $69 million following the sale.
• Amgen's stock opened at $306.58 and has seen a 12-month low of $253.30 and a high of $340.89, with institutional investors holding 76.50% of the stock.
• The company reported $4.90 earnings per share for the last quarter, exceeding estimates, and anticipates a 20.62 EPS for the current fiscal year.

TCW Group Inc. decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 221,744 shares of the medical research company's stock after selling 1,018 shares during the quarter. TCW Group Inc.'s holdings in Amgen were worth $69,084,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. First Pacific Financial increased its position in Amgen by 304.5% during the first 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 period. Pinney & Scofield Inc. bought a new position in Amgen during the fourth quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE increased its position in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares during the period. Global Wealth Strategies & Associates increased its position in Amgen by 1,388.9% during the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after acquiring an additional 125 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in Amgen during the fourth quarter worth $36,000. Institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup boosted their price target on shares of Amgen from $300.00 to $305.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Mizuho boosted their price target on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Finally, Bank of America boosted their price target on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $307.27.

Amgen Price Performance

NASDAQ AMGN traded down $5.35 on Thursday, hitting $296.02. 786,334 shares of the company were exchanged, compared to its average volume of 2,901,975. The firm has a 50 day moving average of $291.07 and a two-hundred day moving average of $291.49. The company has a market cap of $159.17 billion, a P/E ratio of 27.13, a P/E/G ratio of 2.63 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $340.89.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate 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. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Insider Transactions 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 shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

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.