Amgen Inc. (NASDAQ:AMGN) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 92.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 75,022 shares of the medical research company’s stock after selling 914,039 shares during the period. Los Angeles Capital Management LLC’s holdings in Amgen were worth $21,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. lifted its holdings in Amgen by 1.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock worth $3,133,000 after buying an additional 193 shares in the last quarter. Diversified Trust Co raised its stake in shares of Amgen by 76.8% in the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after acquiring an additional 16,376 shares in the last quarter. Provence Wealth Management Group boosted its holdings in Amgen by 11.9% in the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after purchasing an additional 154 shares during the period. Kinsale Capital Group Inc. grew its stake in Amgen by 33.0% during the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after purchasing an additional 2,814 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. increased its holdings in Amgen by 2.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.69% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN traded up $2.71 during midday trading on Wednesday, reaching $305.99. The stock had a trading volume of 2,166,202 shares, compared to its average volume of 2,101,200. The stock has a market cap of $164.14 billion, a P/E ratio of 43.71, a P/E/G ratio of 2.74 and a beta of 0.60. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 12-month low of $218.44 and a 12-month high of $329.72. The firm has a fifty day simple moving average of $294.16 and a two-hundred day simple moving average of $290.05.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.98 earnings per share. On average, equities analysts expect that Amgen Inc. will post 19.47 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMGN. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Morgan Stanley increased their price objective on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. BMO Capital Markets raised their price objective on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Finally, Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $305.85.

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.