Amgen Inc. (NASDAQ:AMGN) Shares Sold by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC lowered its holdings in Amgen Inc. (NASDAQ:AMGN) by 80.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,381 shares of the medical research company’s stock after selling 5,524 shares during the period. Atlas Capital Advisors LLC’s holdings in Amgen were worth $393,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen in the fourth quarter valued at $29,000. United Community Bank purchased a new position in shares of Amgen in the 4th quarter valued at about $29,000. Planned Solutions Inc. acquired a new position in shares of Amgen during the fourth quarter worth about $30,000. Delos Wealth Advisors LLC raised its holdings in Amgen by 2,500.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Finally, Hartford Financial Management Inc. grew its holdings in Amgen by 56.9% during the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after acquiring an additional 41 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMGN shares. 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 report on Friday, June 14th. Truist Financial reaffirmed a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Barclays upgraded 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. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Finally, Raymond James began coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.35.

Amgen Stock Up 0.3 %

Shares of NASDAQ:AMGN opened at $313.69 on Friday. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week 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 firm’s 50-day simple moving average is $299.67 and its 200-day simple moving average is $291.67. The company has a market cap of $168.27 billion, a price-to-earnings ratio of 44.81, a PEG ratio of 2.88 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last released 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 company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.98 EPS. As a group, equities research analysts predict that Amgen Inc. will post 19.47 earnings per share for the current year.

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.