Amgen Inc. (NASDAQ:AMGN) Shares Sold by Kwmg LLC

Kwmg LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,292 shares of the medical research company’s stock after selling 52 shares during the period. Kwmg LLC’s holdings in Amgen were worth $5,485,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMGN. Vanguard Group Inc. boosted its stake in shares of Amgen by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after purchasing an additional 165,636 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Amgen by 3.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after buying an additional 243,720 shares during the last quarter. Royal Bank of Canada boosted its holdings in Amgen by 14.8% in the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after purchasing an additional 751,947 shares during the period. Norges Bank acquired a new position in Amgen in the fourth quarter worth $1,556,912,000. Finally, California Public Employees Retirement System boosted its holdings in Amgen by 22.0% in the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock worth $782,288,000 after purchasing an additional 490,539 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Down 1.8 %

NASDAQ:AMGN traded down $5.83 during mid-day trading on Wednesday, hitting $313.48. The company had a trading volume of 1,417,992 shares, compared to its average volume of 2,779,830. The business’s fifty day moving average is $298.70 and its two-hundred day moving average is $291.52. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week high of $329.72. The firm has a market cap of $168.16 billion, a P/E ratio of 44.89, a P/E/G ratio of 2.88 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period last year, the company earned $3.98 earnings per share. The business’s revenue was up 22.0% compared to the same quarter last year. As a group, research analysts expect that Amgen Inc. will post 19.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMGN shares. Morgan Stanley boosted their price target on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Raymond James started coverage on Amgen in a research note on Thursday, March 28th. They set a “market perform” rating on the stock. Royal Bank of Canada upped their target price on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. TD Cowen decreased their target price on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, Truist Financial reaffirmed a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $305.85.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.69% of the company’s stock.

About Amgen

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.