Stokes Capital Advisors LLC Lowers Stock Position in Amgen Inc. (NASDAQ:AMGN)

Stokes Capital Advisors LLC lowered its position in Amgen Inc. (NASDAQ:AMGN) by 15.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,845 shares of the medical research company’s stock after selling 330 shares during the period. Stokes Capital Advisors LLC’s holdings in Amgen were worth $525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new position in Amgen during the fourth quarter valued at about $29,000. United Community Bank bought a new position in Amgen during the fourth quarter valued at about $29,000. Planned Solutions Inc. bought a new position in Amgen during the fourth quarter valued at about $30,000. Delos Wealth Advisors LLC grew its position 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 valued at $30,000 after buying an additional 100 shares during the period. Finally, Hartford Financial Management Inc. grew its position in Amgen by 56.9% during the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group increased their target price on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Finally, Raymond James assumed coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $307.35.

Insiders Place Their Bets

In other Amgen 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 transaction of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen Price Performance

AMGN traded down $0.36 on Friday, reaching $313.33. The company had a trading volume of 418,346 shares, compared to its average volume of 2,766,306. The business has a 50 day simple moving average of $299.67 and a 200 day simple moving average of $291.67. The company has a market cap of $168.08 billion, a price-to-earnings ratio of 44.81, a P/E/G ratio of 2.83 and a beta of 0.60. 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 52-week low of $218.44 and a 52-week high of $329.72.

Amgen (NASDAQ:AMGN) last announced its 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. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. Amgen’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the firm posted $3.98 earnings per share. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.47 EPS 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.