9258 Wealth Management LLC Trims Holdings in Amgen Inc. (NASDAQ:AMGN)

9258 Wealth Management LLC reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 978 shares of the medical research company’s stock after selling 187 shares during the quarter. 9258 Wealth Management LLC’s holdings in Amgen were worth $278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMGN. Team Hewins LLC lifted its stake in Amgen by 1.0% during the first quarter. Team Hewins LLC now owns 3,894 shares of the medical research company’s stock worth $1,107,000 after purchasing an additional 40 shares during the last quarter. Affinity Investment Advisors LLC lifted its stake in Amgen by 56.7% during the first quarter. Affinity Investment Advisors LLC now owns 5,923 shares of the medical research company’s stock worth $1,684,000 after purchasing an additional 2,142 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Amgen by 32.3% during the first quarter. Richardson Financial Services Inc. now owns 1,968 shares of the medical research company’s stock worth $560,000 after purchasing an additional 480 shares during the last quarter. Catalina Capital Group LLC lifted its stake in Amgen by 65.0% during the first quarter. Catalina Capital Group LLC now owns 2,000 shares of the medical research company’s stock worth $569,000 after purchasing an additional 788 shares during the last quarter. Finally, Avidian Wealth Solutions LLC lifted its stake in Amgen by 10.2% during the first quarter. Avidian Wealth Solutions LLC now owns 3,304 shares of the medical research company’s stock worth $939,000 after purchasing an additional 307 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Price Performance

NASDAQ:AMGN traded up $3.43 during mid-day trading on Thursday, reaching $325.10. 1,545,171 shares of the stock were exchanged, compared to its average volume of 2,715,651. The business has a fifty day moving average price of $307.86 and a 200 day moving average price of $294.15. The firm has a market capitalization of $174.39 billion, a PE ratio of 46.38, a PEG ratio of 2.81 and a beta of 0.58. Amgen Inc. has a 1-year low of $224.09 and a 1-year high of $329.72. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96.

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

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the 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 owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent research reports. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. Royal Bank of Canada raised their target price on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Mizuho raised their target price on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. UBS Group raised their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley cut their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $307.00.

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.