Whittier Trust Co. Decreases Holdings in Amgen Inc. (NASDAQ:AMGN)

Whittier Trust Co. cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,543 shares of the medical research company's stock after selling 1,637 shares during the period. Whittier Trust Co.'s holdings in Amgen were worth $10,450,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AMGN. Pinney & Scofield Inc. purchased a new stake in Amgen in the 4th quarter valued at about $26,000. First Pacific Financial lifted its position in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Amgen by 66.2% in 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 during the period. Heck Capital Advisors LLC purchased a new stake in shares of Amgen in the 4th quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC raised its stake in shares of Amgen by 46.9% during the 4th quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after acquiring an additional 45 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

NASDAQ AMGN traded down $1.11 during mid-day trading on Thursday, reaching $297.91. 983,998 shares of the stock were exchanged, compared to its average volume of 2,833,642. The business's 50 day moving average is $284.80 and its 200-day moving average is $288.65. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a market capitalization of $160.19 billion, a P/E ratio of 27.18, a P/E/G ratio of 2.64 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results 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 net margin of 17.39% and a return on equity of 176.11%. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the firm posted $3.96 earnings per share. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMGN. Guggenheim began coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. UBS Group reiterated a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Finally, Mizuho upped 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. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have issued 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.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on 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 of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.76% of the stock is currently owned by insiders.

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.