Wealth Enhancement Advisory Services LLC Sells 133,628 Shares of Amgen Inc. (NASDAQ:AMGN)

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 25.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 385,168 shares of the medical research company's stock after selling 133,628 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of Amgen worth $120,001,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMGN. Beck Mack & Oliver LLC raised its position in shares of Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock worth $1,205,000 after acquiring an additional 34 shares in the last quarter. Continuum Advisory LLC grew its stake in Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after buying an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC grew its stake in Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after buying an additional 35 shares during the last quarter. Zullo Investment Group Inc. grew its stake in Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company's stock worth $356,000 after buying an additional 37 shares during the last quarter. Finally, Trillium Asset Management LLC grew its stake in Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after buying an additional 37 shares during the last quarter. Institutional investors own 76.50% of the company's stock.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president now directly owns 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Bank of America boosted their price target on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Royal Bank Of Canada dropped their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Mizuho upped their target price on Amgen from $235.00 to $280.00 and gave the stock 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, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Amgen currently has an average rating of "Hold" and an average target price of $309.22.

Amgen Price Performance

Shares of Amgen stock opened at $289.63 on Friday. The business has a 50 day simple moving average of $281.75 and a two-hundred day simple moving average of $285.89. 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 $155.74 billion, a P/E ratio of 26.43, a PEG ratio of 2.62 and a beta of 0.51. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

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, beating the consensus estimate 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 quarter last year, the firm earned $3.96 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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.

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