Washington Trust Advisors Inc. Has $363,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Washington Trust Advisors Inc. decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 16.9% during the 1st quarter, HoldingsChannel reports. The fund owned 1,167 shares of the medical research company’s stock after selling 238 shares during the period. Washington Trust Advisors Inc.’s holdings in Amgen were worth $363,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AMGN. Pinney & Scofield Inc. acquired a new stake in shares of Amgen during the 4th quarter valued at $26,000. First Pacific Financial boosted its holdings in shares of Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 51 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the 4th quarter valued at $34,000. Finally, Atala Financial Inc acquired a new stake in shares of Amgen during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 0.7%

AMGN stock opened at $277.13 on Monday. The stock’s 50 day simple moving average is $281.02 and its 200 day simple moving average is $286.19. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. 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 company has a market cap of $149.02 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 2.51 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate 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 return on equity of 176.11% and a net margin of 17.39%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.96 earnings per share. On average, research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bank of America raised their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Royal Bank Of Canada cut their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Two investment 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 stock. According to MarketBeat.com, Amgen currently has an average rating of “Hold” and an average target price of $307.82.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on 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 now directly 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 0.69% of the company’s stock.

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.