Amgen Inc. (NASDAQ:AMGN) Stake Decreased by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,434 shares of the medical research company’s stock after selling 84 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Amgen were worth $6,378,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Diversified Trust Co grew its position in Amgen by 76.8% in the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after buying an additional 16,376 shares in the last quarter. Provence Wealth Management Group raised its holdings in Amgen by 11.9% during the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock worth $416,000 after purchasing an additional 154 shares in the last quarter. Kinsale Capital Group Inc. lifted its position in Amgen by 33.0% in the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after purchasing an additional 2,814 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its stake in Amgen by 2.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock valued at $1,363,000 after purchasing an additional 109 shares in the last quarter. Finally, Traynor Capital Management Inc. increased its position in shares of Amgen by 9.5% during the 4th quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock valued at $5,455,000 after purchasing an additional 1,650 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Down 0.4 %

Shares of Amgen stock traded down $1.24 on Friday, hitting $312.45. 3,518,174 shares of the company traded hands, compared to its average volume of 2,437,626. Amgen Inc. has a 12-month low of $218.44 and a 12-month high of $329.72. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The company has a market cap of $167.61 billion, a PE ratio of 44.64, a PEG ratio of 2.83 and a beta of 0.60. The company has a 50-day moving average price of $301.56 and a 200 day moving average price of $292.10.

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

Analyst Upgrades and Downgrades

AMGN has been the subject of several research analyst reports. TD Cowen cut their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada raised their price objective on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Argus raised their target price on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday. Finally, William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.35.

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.