Amgen Inc. (NASDAQ:AMGN) Shares Sold by Mcdonald Partners LLC

Mcdonald Partners LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,695 shares of the medical research company’s stock after selling 60 shares during the quarter. Amgen makes up about 1.6% of Mcdonald Partners LLC’s investment portfolio, making the stock its 7th biggest holding. Mcdonald Partners LLC’s holdings in Amgen were worth $5,884,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in Amgen in the fourth quarter valued at $1,556,912,000. International Assets Investment Management LLC acquired a new stake in Amgen in the fourth quarter valued at $4,589,900,000. Royal Bank of Canada lifted its stake in Amgen by 14.8% in the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after acquiring an additional 751,947 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Amgen by 486.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after acquiring an additional 745,929 shares during the last quarter. Finally, abrdn plc lifted its stake in Amgen by 150.4% in the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after acquiring an additional 626,810 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock traded down $6.49 during mid-day trading on Wednesday, hitting $312.82. The stock had a trading volume of 2,799,759 shares, compared to its average volume of 2,791,145. The firm has a fifty day simple moving average of $298.70 and a 200 day simple moving average of $291.52. Amgen Inc. has a 52 week low of $218.44 and a 52 week high of $329.72. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The firm has a market capitalization of $167.81 billion, a P/E ratio of 44.72, a P/E/G ratio of 2.88 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating 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 company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same period last year, the company posted $3.98 EPS. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, research analysts forecast that Amgen Inc. will post 19.47 EPS for the current year.

Insider Activity

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AMGN shares. TD Cowen dropped their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Barclays raised 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 research report on Friday, May 3rd. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. 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 research 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 research report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $305.85.

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.