Amgen Inc. (NASDAQ:AMGN) Stock Position Cut by Investor s Fiduciary Advisor Network LLC

Investor s Fiduciary Advisor Network LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 17.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,339 shares of the medical research company’s stock after selling 482 shares during the period. Investor s Fiduciary Advisor Network LLC’s holdings in Amgen were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AMGN. First Pacific Financial boosted its holdings in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after buying an additional 67 shares during the period. Pinney & Scofield Inc. purchased a new stake in shares of Amgen in the fourth quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Atala Financial Inc purchased a new stake in shares of Amgen in the fourth quarter worth approximately $34,000. Finally, Global Wealth Strategies & Associates lifted its position in shares of Amgen by 1,388.9% in the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company’s stock worth $42,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMGN. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Guggenheim initiated coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $328.00 price objective on shares of Amgen in a research report on Friday, June 27th. Finally, William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average price target of $307.82.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.76% of the stock is owned by corporate insiders.

Amgen Stock Performance

Amgen stock opened at $298.25 on Friday. The stock has a 50-day simple moving average of $282.47 and a 200 day simple moving average of $286.99. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock has a market capitalization of $160.37 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 2.70 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the previous year, the business posted $3.96 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts anticipate 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.