Valley National Advisers Inc. Sells 943 Shares of Amgen Inc. (NASDAQ:AMGN)

Valley National Advisers Inc. reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 7.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,217 shares of the medical research company's stock after selling 943 shares during the quarter. Valley National Advisers Inc.'s holdings in Amgen were worth $3,494,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Amgen by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock valued at $13,741,409,000 after buying an additional 339,522 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Amgen by 25.4% in 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 buying an additional 2,672,975 shares during the period. Geode Capital Management LLC raised its stake in shares of Amgen by 2.9% in 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 buying an additional 352,143 shares during the period. Capital International Investors raised its stake in shares of Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Finally, Capital World Investors raised its stake in shares of 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 during the period. 76.50% of the stock is currently owned by institutional investors.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the 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 sale, the senior vice president now directly 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 legal filing with the SEC, which is available through this link. Company insiders own 0.69% of the company's stock.

Amgen Price Performance

AMGN opened at $277.13 on Monday. The stock has a 50-day moving average price of $281.02 and a 200-day moving average price of $286.19. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The stock has a market capitalization of $149.02 billion, a P/E ratio of 25.29, a PEG ratio of 2.51 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same period in the prior year, the business earned $3.96 EPS. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMGN has been the topic of a number of analyst reports. Royal Bank Of Canada decreased their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Piper Sandler reiterated an "overweight" rating and set a $328.00 price objective on shares of Amgen in a research note on Friday. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Mizuho boosted their price objective on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $307.82.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.