Successful Portfolios LLC Lowers Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Successful Portfolios LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.9% during the first quarter, HoldingsChannel.com reports. The firm owned 1,475 shares of the medical research company’s stock after selling 126 shares during the period. Successful Portfolios LLC’s holdings in Amgen were worth $419,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BIP Wealth LLC boosted its holdings in Amgen by 2.6% in the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after purchasing an additional 32 shares in the last quarter. Southland Equity Partners LLC boosted its holdings in Amgen by 2.3% in the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after purchasing an additional 34 shares in the last quarter. Acropolis Investment Management LLC boosted its holdings in Amgen by 3.5% in the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 34 shares in the last quarter. Opal Wealth Advisors LLC boosted its stake in shares of Amgen by 1.9% during the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after acquiring an additional 34 shares in the last quarter. Finally, Marino Stram & Associates LLC boosted its stake in shares of Amgen by 0.7% during the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.4 %

AMGN stock opened at $312.45 on Monday. The company has a market cap of $167.61 billion, a price-to-earnings ratio of 44.64, a PEG ratio of 2.82 and a beta of 0.58. 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 business has a fifty day simple moving average of $301.56 and a 200-day simple moving average of $292.30. 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 the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the firm earned $3.98 EPS. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, equities research analysts expect that Amgen Inc. will post 19.47 EPS for the current year.

Insider Buying and Selling at Amgen

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Raymond James began coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. BMO Capital Markets upped their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Mizuho upped their target price on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. 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 currently has a consensus rating of “Moderate Buy” and an average target price of $307.35.

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.