Amgen Inc. (NASDAQ:AMGN) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 26.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,321 shares of the medical research company’s stock after selling 37,294 shares during the quarter. AMF Tjanstepension AB’s holdings in Amgen were worth $29,980,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMGN. Diversified Trust Co increased its stake in shares of Amgen by 76.8% during the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after purchasing an additional 16,376 shares in the last quarter. Provence Wealth Management Group increased its stake in Amgen by 11.9% during the 4th quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock worth $416,000 after buying an additional 154 shares in the last quarter. Kinsale Capital Group Inc. lifted its position in shares of Amgen by 33.0% in the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after acquiring an additional 2,814 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its position in shares of Amgen by 2.4% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock valued at $1,363,000 after acquiring an additional 109 shares in the last quarter. Finally, Traynor Capital Management Inc. increased its position in shares of Amgen by 9.5% during the fourth quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock worth $5,455,000 after purchasing an additional 1,650 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen 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 transaction, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.69% of the stock is owned by company insiders.

Amgen Trading Down 0.4 %

Shares of AMGN traded down $1.24 during midday trading on Friday, hitting $312.45. 3,518,173 shares of the stock were exchanged, compared to its average volume of 2,791,304. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The firm has a market cap of $167.61 billion, a P/E ratio of 44.64, a P/E/G ratio of 2.83 and a beta of 0.60. Amgen Inc. has a 52-week low of $218.44 and a 52-week high of $329.72. The stock has a fifty day simple moving average of $301.56 and a 200 day simple moving average of $292.10.

Amgen (NASDAQ:AMGN) last released 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. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the previous year, the company posted $3.98 EPS. Amgen’s revenue was up 22.0% compared to the same quarter last year. On average, research analysts anticipate that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on AMGN. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. Truist Financial reaffirmed a “buy” rating and set a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. Raymond James began coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Argus upped their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Mizuho lifted their price objective on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average price target of $307.35.

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.