Amgen Inc. (NASDAQ:AMGN) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 646,187 shares of the medical research company’s stock after selling 2,208 shares during the quarter. Truist Financial Corp owned about 0.12% of Amgen worth $201,320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AMGN. Capital Investment Advisory Services LLC grew its stake in Amgen by 4.9% in the 1st quarter. Capital Investment Advisory Services LLC now owns 10,515 shares of the medical research company’s stock valued at $3,276,000 after acquiring an additional 489 shares during the last quarter. Impax Asset Management Group plc grew its stake in Amgen by 3.6% in the 1st quarter. Impax Asset Management Group plc now owns 7,573 shares of the medical research company’s stock valued at $2,359,000 after acquiring an additional 260 shares during the last quarter. Argyle Capital Management LLC grew its stake in Amgen by 1.0% in the 1st quarter. Argyle Capital Management LLC now owns 19,571 shares of the medical research company’s stock valued at $6,097,000 after acquiring an additional 185 shares during the last quarter. Abel Hall LLC acquired a new stake in Amgen in the 1st quarter valued at about $232,000. Finally, Strategic Blueprint LLC boosted its stake in shares of Amgen by 13.2% during the 1st quarter. Strategic Blueprint LLC now owns 7,006 shares of the medical research company’s stock worth $2,183,000 after purchasing an additional 819 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMGN has been the topic of several analyst reports. Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Mizuho increased their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Royal Bank Of Canada decreased their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Guggenheim initiated coverage on Amgen in a report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $307.82.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is owned by insiders.

Amgen Stock Up 0.5%

AMGN stock opened at $298.25 on Friday. The company has a market capitalization of $160.37 billion, a P/E ratio of 27.21, a PEG ratio of 2.70 and a beta of 0.49. The firm has a 50 day simple moving average of $282.47 and a 200-day simple moving average of $286.79. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data 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 firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.96 earnings per share. On average, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

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.