Capital Investment Advisors LLC Lowers Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Capital Investment Advisors LLC cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 30,841 shares of the medical research company’s stock after selling 507 shares during the quarter. Capital Investment Advisors LLC’s holdings in Amgen were worth $9,608,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the 4th quarter worth about $25,000. Pinney & Scofield Inc. purchased a new stake in Amgen in the fourth quarter valued at approximately $26,000. Ritter Daniher Financial Advisory LLC DE increased its position 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 worth $33,000 after purchasing an additional 51 shares during the last quarter. Synergy Investment Management LLC purchased a new position in Amgen during the fourth quarter worth approximately $34,000. Finally, Atala Financial Inc acquired a new position in shares of Amgen in the 4th quarter valued at $34,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN stock opened at $290.33 on Friday. The stock’s 50 day moving average is $281.57 and its two-hundred day moving average is $285.42. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a market capitalization of $156.11 billion, a PE ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.96 earnings per share. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Cantor Fitzgerald began coverage on Amgen in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price target for the company. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Piper Sandler reduced their price target 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. UBS Group reiterated a “neutral” rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Finally, Johnson Rice set a $294.00 target price on shares of Amgen in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $309.22.

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.