Ropes Wealth Advisors LLC Acquires 239 Shares of Amgen Inc. (NASDAQ:AMGN)

Ropes Wealth Advisors LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 7,393 shares of the medical research company’s stock after buying an additional 239 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Amgen were worth $1,865,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Better Money Decisions LLC bought a new position in Amgen during the first quarter valued at $27,000. Fort Pitt Capital Group LLC bought a new stake in shares of Amgen in the 4th quarter worth about $28,000. Wealthcare Capital Management LLC bought a new stake in shares of Amgen in the 1st quarter worth about $38,000. Grant Street Asset Management Inc. lifted its holdings in shares of Amgen by 77.4% in the 1st quarter. Grant Street Asset Management Inc. now owns 188 shares of the medical research company’s stock worth $47,000 after acquiring an additional 82 shares during the last quarter. Finally, Goodwin Investment Advisory bought a new stake in shares of Amgen in the 1st quarter worth about $48,000. Institutional investors and hedge funds own 75.31% of the company’s stock.

Shares of Amgen stock traded down $0.90 on Friday, reaching $243.74. The stock had a trading volume of 26,213 shares, compared to its average volume of 2,708,896. The firm’s 50 day moving average price is $247.24. The company has a quick ratio of 1.34, a current ratio of 1.66 and a debt-to-equity ratio of 3.34. Amgen Inc. has a 1 year low of $210.28 and a 1 year high of $276.69. The stock has a market cap of $140.04 billion, a PE ratio of 20.27, a P/E/G ratio of 1.73 and a beta of 0.72.

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

In other Amgen news, Director R Sanders Williams sold 250 shares of the business’s stock in a transaction that occurred on Friday, May 7th. The shares were 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 of the company’s stock, valued at approximately $1,110,098.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy A. Grygiel sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $252.51, for a total transaction of $631,275.00. Following the sale, 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. In the last three months, insiders have sold 4,750 shares of company stock worth $1,194,790. 0.36% of the stock is owned by insiders.

Several equities research analysts have recently issued reports on AMGN shares. Credit Suisse Group lowered their target price on shares of Amgen from $265.00 to $259.00 and set an “outperform” rating for the company in a report on Wednesday, April 28th. Royal Bank of Canada lowered their target price on shares of Amgen from $220.00 to $217.00 and set a “sector perform” rating for the company in a report on Wednesday, April 28th. Robert W. Baird restated a “sell” rating on shares of Amgen in a report on Thursday, April 29th. Oppenheimer lifted their price objective on shares of Amgen from $272.00 to $277.00 and gave the company an “outperform” rating in a report on Monday. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $290.00 price objective on shares of Amgen in a report on Wednesday, April 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $256.81.

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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