Beese Fulmer Investment Management Inc. Sells 137 Shares of Amgen Inc. (NASDAQ:AMGN)

Beese Fulmer Investment Management Inc. reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,698 shares of the medical research company’s stock after selling 137 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Amgen were worth $1,051,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMGN. Vanguard Group Inc. raised its holdings in Amgen by 0.3% during the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after acquiring an additional 165,636 shares during the period. Northern Trust Corp raised its holdings in Amgen by 3.8% during the third quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after acquiring an additional 255,463 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Amgen by 3.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock valued at $1,890,769,000 after acquiring an additional 243,720 shares during the period. Royal Bank of Canada raised its holdings in Amgen by 14.8% during the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after acquiring an additional 751,947 shares during the period. Finally, Norges Bank bought a new stake in Amgen during the fourth quarter valued at about $1,556,912,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMGN. Morgan Stanley raised their price target on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Mizuho lifted their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada lifted their target price on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Finally, StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $305.85.

Amgen Stock Up 0.9 %

Shares of NASDAQ AMGN opened at $305.99 on Thursday. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The firm has a market capitalization of $164.14 billion, a price-to-earnings ratio of 43.71, a PEG ratio of 2.76 and a beta of 0.60. The stock has a 50 day moving average price of $294.95 and a 200 day moving average price of $290.16. Amgen Inc. has a 52-week low of $218.44 and a 52-week high of $329.72.

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

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’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 transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.69% of the company’s stock.

Amgen Profile

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.