Heritage Trust Co raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,377 shares of the medical research company’s stock after purchasing an additional 501 shares during the period. Heritage Trust Co’s holdings in Amgen were worth $2,333,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Amgen by 2.0% during the first quarter. BlackRock Inc. now owns 48,772,074 shares of the medical research company’s stock worth $12,134,979,000 after purchasing an additional 966,280 shares in the last quarter. Morgan Stanley grew its holdings in shares of Amgen by 13.8% during the fourth quarter. Morgan Stanley now owns 9,745,556 shares of the medical research company’s stock valued at $2,240,698,000 after buying an additional 1,179,665 shares during the last quarter. Norges Bank purchased a new stake in shares of Amgen during the fourth quarter valued at $1,302,778,000. Aristotle Capital Management LLC grew its holdings in shares of Amgen by 5.5% during the fourth quarter. Aristotle Capital Management LLC now owns 4,395,783 shares of the medical research company’s stock valued at $1,006,606,000 after buying an additional 227,873 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of Amgen by 2.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 3,418,659 shares of the medical research company’s stock valued at $786,018,000 after buying an additional 71,386 shares during the last quarter. 75.31% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on AMGN. Royal Bank of Canada dropped their price objective on shares of Amgen from $220.00 to $217.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 28th. The Goldman Sachs Group reissued a “buy” rating and set a $290.00 price objective on shares of Amgen in a report on Wednesday, April 28th. Morgan Stanley lowered their price target on shares of Amgen from $281.00 to $278.00 and set an “overweight” rating on the stock in a report on Monday, April 26th. Barclays lowered their price target on shares of Amgen from $242.00 to $230.00 and set an “equal weight” rating on the stock in a report on Friday, March 5th. Finally, Robert W. Baird reaffirmed a “sell” rating on shares of Amgen in a report on Thursday, April 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $256.81.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Monday, April 26th. The medical research company reported $3.70 earnings per share for the quarter, missing the consensus estimate of $4.05 by ($0.35). Amgen had a return on equity of 93.84% and a net margin of 28.16%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.30 billion. During the same quarter last year, the company earned $4.17 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post 16.35 EPS for the current year.
In other Amgen news, Director Ronald D. Sugar sold 1,000 shares of the stock in a transaction dated Wednesday, May 12th. The shares were sold at an average price of $250.59, for a total value of $250,590.00. Following the completion of the sale, the director now owns 16,927 shares in the company, valued at approximately $4,241,736.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director R Sanders Williams sold 250 shares of the stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $251.78, for a total transaction of $62,945.00. Following the completion of the sale, the director now owns 4,409 shares of the company’s stock, valued at approximately $1,110,098.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,750 shares of company stock valued at $1,194,790. Insiders own 0.36% of the company’s stock.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with BehÃ§et's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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