Amgen Inc. (NASDAQ:AMGN) Stake Lowered by First PREMIER Bank

First PREMIER Bank reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,614 shares of the medical research company’s stock after selling 110 shares during the period. First PREMIER Bank’s holdings in Amgen were worth $2,733,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new position in Amgen during the 4th quarter worth $29,000. United Community Bank bought a new stake in Amgen during the fourth quarter worth about $29,000. Providence Capital Advisors LLC bought a new stake in Amgen during the third quarter worth about $30,000. Planned Solutions Inc. bought a new stake in Amgen during the fourth quarter worth about $30,000. Finally, Delos Wealth Advisors LLC lifted its position in shares of Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Royal Bank of Canada upped their target price on shares of Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. BMO Capital Markets increased their price objective on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $230.00 to $300.00 in a report on Friday, May 3rd. Finally, Morgan Stanley increased their price objective 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. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $305.85.

Amgen Trading Up 2.1 %

Shares of NASDAQ:AMGN traded up $6.41 during trading on Monday, reaching $314.57. The stock had a trading volume of 907,962 shares, compared to its average volume of 2,765,104. The firm’s fifty day moving average is $296.57 and its 200 day moving average is $290.84. 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 Inc. has a 52 week low of $218.44 and a 52 week high of $329.72. The stock has a market cap of $168.74 billion, a price-to-earnings ratio of 44.02, a P/E/G ratio of 2.80 and a beta of 0.60.

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

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction on Friday, May 3rd. The shares were 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 can be accessed through this hyperlink. 0.69% of the stock is owned by insiders.

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.