Cambridge Advisors Inc. Cuts Stake in Amgen Inc. (NASDAQ:AMGN)

Cambridge Advisors Inc. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,218 shares of the medical research company’s stock after selling 72 shares during the quarter. Amgen comprises about 1.7% of Cambridge Advisors Inc.’s investment portfolio, making the stock its 13th biggest position. Cambridge Advisors Inc.’s holdings in Amgen were worth $7,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s 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 transaction, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley lifted their target price on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. UBS Group increased their price objective on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. BMO Capital Markets raised their price objective on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Argus raised their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $307.35.

Amgen Stock Performance

NASDAQ:AMGN opened at $312.45 on Friday. The firm’s 50-day moving average is $301.56 and its 200-day moving average is $292.10. Amgen Inc. has a 52-week low of $218.44 and a 52-week high of $329.72. 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 company has a market cap of $167.61 billion, a price-to-earnings ratio of 44.64, a PEG ratio of 2.83 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. The business’s revenue was up 22.0% compared to the same quarter last year. Equities research analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current year.

Amgen Company 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.