Congress Wealth Management LLC DE Sells 3,281 Shares of Amgen Inc. (NASDAQ:AMGN)

Congress Wealth Management LLC DE lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 5.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,766 shares of the medical research company’s stock after selling 3,281 shares during the period. Congress Wealth Management LLC DE’s holdings in Amgen were worth $15,572,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AMGN. BOK Financial Private Wealth Inc. purchased a new position in Amgen during the fourth quarter worth $29,000. United Community Bank purchased a new position in Amgen during the fourth quarter worth $29,000. Planned Solutions Inc. purchased a new position in Amgen during the fourth quarter worth $30,000. Delos Wealth Advisors LLC boosted its stake in 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 buying an additional 100 shares during the period. Finally, Hartford Financial Management Inc. boosted its stake in Amgen by 56.9% during the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after buying an additional 41 shares during the period. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. TD Cowen lowered their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Argus boosted their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. Finally, Mizuho boosted their target price on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $307.35.

Amgen Stock Performance

AMGN stock opened at $311.01 on Tuesday. The firm has a 50-day simple moving average of $301.56 and a two-hundred day simple moving average of $292.30. 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 one year low of $218.44 and a one year high of $329.72. The firm has a market cap of $166.84 billion, a price-to-earnings ratio of 44.43, a PEG ratio of 2.82 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm 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 earned $3.98 EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. On average, equities analysts forecast that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction that occurred on 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 owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.69% of the company’s stock.

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.