Tudor Financial Inc. Trims Position in Amgen Inc. (NASDAQ:AMGN)

Tudor Financial Inc. trimmed its position in Amgen Inc. (NASDAQ:AMGN) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,330 shares of the medical research company’s stock after selling 74 shares during the quarter. Amgen comprises about 1.9% of Tudor Financial Inc.’s investment portfolio, making the stock its 10th biggest position. Tudor Financial Inc.’s holdings in Amgen were worth $3,218,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AMGN. Tallon Kerry Patrick bought a new stake in Amgen during the fourth quarter worth approximately $270,000. Brighton Jones LLC increased its stake in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Bogart Wealth LLC increased its stake in Amgen by 0.4% during the fourth quarter. Bogart Wealth LLC now owns 20,113 shares of the medical research company’s stock worth $5,242,000 after acquiring an additional 74 shares during the last quarter. Root Financial Partners LLC increased its stake in Amgen by 18.1% during the fourth quarter. Root Financial Partners LLC now owns 769 shares of the medical research company’s stock worth $200,000 after acquiring an additional 118 shares during the last quarter. Finally, Palacios Wealth Management LLC bought a new stake in Amgen during the fourth quarter worth approximately $1,405,000. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AMGN shares. UBS Group reissued 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. Royal Bank of Canada reduced their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Piper Sandler reduced their price objective on Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Cantor Fitzgerald started coverage on Amgen in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective on the stock. Finally, Guggenheim started coverage on Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $309.22.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business’s 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 completion of the transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.76% of the stock is owned by company insiders.

Amgen Stock Down 0.7%

Shares of NASDAQ AMGN opened at $295.22 on Friday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market capitalization of $158.74 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.63 and a beta of 0.51. The stock has a 50 day moving average price of $281.33 and a 200 day moving average price of $285.58. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced 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. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 earnings per share. Sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current 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.