Worth Financial Advisory Group LLC Sells 1,957 Shares of Amgen Inc. (NASDAQ:AMGN)

Worth Financial Advisory Group LLC trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 60.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,282 shares of the medical research company's stock after selling 1,957 shares during the period. Worth Financial Advisory Group LLC's holdings in Amgen were worth $399,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Castleview Partners LLC grew its holdings in Amgen by 21.2% during the 1st quarter. Castleview Partners LLC now owns 13,151 shares of the medical research company's stock valued at $4,097,000 after purchasing an additional 2,301 shares during the last quarter. Rockline Wealth Management LLC grew its holdings in Amgen by 3.2% during the 1st quarter. Rockline Wealth Management LLC now owns 1,240 shares of the medical research company's stock valued at $386,000 after purchasing an additional 38 shares during the last quarter. Evanson Asset Management LLC grew its holdings in Amgen by 8.2% during the 1st quarter. Evanson Asset Management LLC now owns 1,801 shares of the medical research company's stock valued at $561,000 after purchasing an additional 136 shares during the last quarter. Private Wealth Partners LLC bought a new position in Amgen during the 1st quarter valued at about $258,000. Finally, Advisor Resource Council purchased a new stake in Amgen in the 1st quarter valued at about $1,331,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Shares of AMGN opened at $289.33 on Friday. The company has a 50 day moving average price of $281.82 and a 200-day moving average price of $285.96. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock has a market capitalization of $155.58 billion, a PE ratio of 26.40, a PEG ratio of 2.62 and a beta of 0.51. 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 posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. Amgen's revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.96 EPS. Equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Bank of America boosted their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Johnson Rice set a $294.00 price objective on shares of Amgen in a research report on Wednesday, March 5th. Finally, Piper Sandler lowered their price objective on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Two 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. Based on data from MarketBeat, Amgen presently has a consensus rating of "Hold" and an average price target of $309.22.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by company insiders.

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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