Amgen Inc. (NASDAQ:AMGN) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 26.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 105,321 shares of the medical research company’s stock after selling 37,294 shares during the period. AMF Tjanstepension AB’s holdings in Amgen were worth $29,980,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Diversified Trust Co increased its stake in Amgen by 76.8% in the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after purchasing an additional 16,376 shares during the last quarter. Provence Wealth Management Group grew its holdings in Amgen by 11.9% in the 4th quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after buying an additional 154 shares during the period. Kinsale Capital Group Inc. increased its stake in shares of Amgen by 33.0% during the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after acquiring an additional 2,814 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Amgen by 2.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after acquiring an additional 109 shares during the period. Finally, Traynor Capital Management Inc. boosted its position in shares of Amgen by 9.5% in the fourth quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock worth $5,455,000 after acquiring an additional 1,650 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN stock traded down $1.24 during midday trading on Friday, reaching $312.45. The company had a trading volume of 3,518,173 shares, compared to its average volume of 2,791,304. The firm has a market capitalization of $167.61 billion, a PE ratio of 44.64, a P/E/G ratio of 2.83 and a beta of 0.60. The stock has a 50 day moving average price of $301.56 and a 200 day moving average price of $292.10. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week high of $329.72. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMGN shares. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Morgan Stanley lifted their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. Argus lifted 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. Finally, BMO Capital Markets raised their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $307.35.

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen 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 sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.69% of the company’s stock.

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.