Trust Co. of Virginia VA Sells 895 Shares of Amgen Inc. (NASDAQ:AMGN)

Trust Co. of Virginia VA trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 1.5% during the first quarter, Holdings Channel reports. The fund owned 57,632 shares of the medical research company’s stock after selling 895 shares during the quarter. Amgen accounts for 1.6% of Trust Co. of Virginia VA’s holdings, making the stock its 17th largest position. Trust Co. of Virginia VA’s holdings in Amgen were worth $16,386,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in Amgen in the 4th quarter valued at approximately $1,556,912,000. International Assets Investment Management LLC acquired a new stake in Amgen in the 4th quarter valued at approximately $4,589,900,000. Royal Bank of Canada grew its holdings in Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after buying an additional 751,947 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Amgen by 486.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after buying an additional 745,929 shares during the last quarter. Finally, abrdn plc grew its holdings in Amgen by 150.4% in the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after buying an additional 626,810 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by insiders.

Amgen Price Performance

AMGN traded down $1.24 during trading on Friday, hitting $312.45. The company’s stock had a trading volume of 3,518,174 shares, compared to its average volume of 2,437,626. The firm’s 50 day moving average price is $301.56 and its two-hundred day moving average price is $292.10. 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 stock has a market capitalization of $167.61 billion, a price-to-earnings ratio of 44.64, a price-to-earnings-growth ratio of 2.83 and a beta of 0.60.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Raymond James assumed coverage on Amgen in a report on Thursday, March 28th. They set a “market perform” rating on the stock. Morgan Stanley lifted their price objective on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada lifted their price objective on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Finally, StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $307.35.

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.