Argent Capital Management LLC Trims Position in Amgen Inc. (NASDAQ:AMGN)

Argent Capital Management LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 5.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,910 shares of the medical research company’s stock after selling 180 shares during the period. Argent Capital Management LLC’s holdings in Amgen were worth $724,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC boosted its stake in Amgen by 2.6% in the 1st quarter. Moody Lynn & Lieberson LLC now owns 1,565 shares of the medical research company’s stock worth $389,000 after buying an additional 40 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. boosted its position in shares of Amgen by 0.8% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 4,986 shares of the medical research company’s stock worth $1,241,000 after acquiring an additional 40 shares during the last quarter. Lederer & Associates Investment Counsel CA grew its holdings in Amgen by 0.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 10,280 shares of the medical research company’s stock valued at $2,558,000 after purchasing an additional 41 shares during the period. Colonial Trust Advisors increased its position in Amgen by 2.0% during the first quarter. Colonial Trust Advisors now owns 2,091 shares of the medical research company’s stock worth $520,000 after purchasing an additional 41 shares during the last quarter. Finally, First Mercantile Trust Co. raised its stake in Amgen by 2.9% during the fourth quarter. First Mercantile Trust Co. now owns 1,578 shares of the medical research company’s stock worth $363,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 75.31% of the company’s stock.

NASDAQ:AMGN opened at $244.64 on Friday. The firm has a market capitalization of $140.56 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.73 and a beta of 0.72. Amgen Inc. has a one year low of $210.28 and a one year high of $276.69. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.34 and a current ratio of 1.66. The stock has a 50-day simple moving average of $247.24.

Amgen (NASDAQ:AMGN) last announced its earnings results on Monday, April 26th. The medical research company reported $3.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.35). Amgen had a net margin of 28.16% and a return on equity of 93.84%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.30 billion. During the same period in the previous year, the company earned $4.17 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts expect that Amgen Inc. will post 16.35 EPS for the current fiscal year.

A number of analysts have recently commented on the company. Robert W. Baird restated a “sell” rating on shares of Amgen in a report on Thursday, April 29th. Credit Suisse Group cut their price objective on Amgen from $265.00 to $259.00 and set an “outperform” rating on the stock in a report on Wednesday, April 28th. Royal Bank of Canada reduced their price objective on Amgen from $220.00 to $217.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 28th. The Goldman Sachs Group reissued a “buy” rating and set a $290.00 target price on shares of Amgen in a research report on Wednesday, April 28th. Finally, Atlantic Securities reaffirmed an “underweight” rating and set a $200.00 price target on shares of Amgen in a research report on Tuesday, May 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Amgen presently has an average rating of “Hold” and an average price target of $256.81.

In other Amgen news, Director R Sanders Williams sold 250 shares of the company’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $251.78, for a total transaction of $62,945.00. Following the sale, the director now owns 4,409 shares in the company, valued at $1,110,098.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $252.51, for a total value of $631,275.00. Following the transaction, the senior vice president now directly owns 14,961 shares in the company, valued at approximately $3,777,802.11. The disclosure for this sale can be found here. Insiders have sold a total of 4,750 shares of company stock worth $1,194,790 over the last quarter. 0.36% of the stock is currently owned by insiders.

About Amgen

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 Behçet'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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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