Washington Trust Bank Sells 983 Shares of Amgen Inc. (NASDAQ:AMGN)

Washington Trust Bank lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 32.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,009 shares of the medical research company's stock after selling 983 shares during the period. Washington Trust Bank's holdings in Amgen were worth $626,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its position in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares during the period. Proficio Capital Partners LLC lifted its holdings in Amgen by 35.0% in the fourth quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock valued at $471,000 after buying an additional 468 shares during the period. Intellectus Partners LLC acquired a new position in Amgen in the fourth quarter valued at $260,000. Naviter Wealth LLC boosted its position in Amgen by 33.7% during the fourth quarter. Naviter Wealth LLC now owns 7,104 shares of the medical research company's stock valued at $1,852,000 after acquiring an additional 1,791 shares during the last quarter. Finally, Atlantic Union Bankshares Corp grew its holdings in Amgen by 1.7% during the 4th quarter. Atlantic Union Bankshares Corp now owns 3,964 shares of the medical research company's stock worth $1,033,000 after acquiring an additional 68 shares during the period. Institutional investors own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on 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 owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.69% of the company's stock.

Amgen Stock Performance

Shares of AMGN stock opened at $298.25 on Monday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a market capitalization of $160.37 billion, a P/E ratio of 27.21, a PEG ratio of 2.70 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. The firm's 50 day moving average is $282.47 and its 200 day moving average is $287.17.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 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 analyst estimates of $8.05 billion. During the same period last year, the company earned $3.96 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price for the company. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Mizuho lifted their price target on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. UBS Group reiterated a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $307.82.

About Amgen

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.

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