Plimoth Trust Co. LLC Sells 331 Shares of Amgen Inc. (NASDAQ:AMGN)

Plimoth Trust Co. LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,776 shares of the medical research company’s stock after selling 331 shares during the period. Plimoth Trust Co. LLC’s holdings in Amgen were worth $3,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Centricity Wealth Management LLC bought a new position in shares of Amgen during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the fourth quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC purchased a new position in Amgen during the 4th quarter valued at approximately $34,000. Finally, Atala Financial Inc purchased a new position in Amgen during the 4th quarter valued at approximately $34,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Piper Sandler decreased their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Bank of America increased their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Finally, Royal Bank Of Canada lowered their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $309.22.

Amgen Trading Down 0.1%

Amgen stock opened at $289.63 on Thursday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market cap of $155.74 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 2.62 and a beta of 0.51. The stock has a 50-day moving average of $281.59 and a two-hundred day moving average of $285.81. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business earned $3.96 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president now owns 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is currently owned by company insiders.

Amgen Company 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.