Trust Co. of Virginia VA Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Trust Co. of Virginia VA cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,632 shares of the medical research company’s stock after selling 895 shares during the period. Amgen comprises about 1.6% of Trust Co. of Virginia VA’s holdings, making the stock its 17th largest position. Trust Co. of Virginia VA’s holdings in Amgen were worth $16,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. BOK Financial Private Wealth Inc. acquired a new position in Amgen in the 4th quarter valued at about $29,000. United Community Bank acquired a new position in Amgen in the 4th quarter valued at about $29,000. Planned Solutions Inc. acquired a new position in Amgen in the 4th quarter valued at about $30,000. Delos Wealth Advisors LLC raised its stake in Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. increased its stake in shares of Amgen by 56.9% during the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 41 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Down 0.4 %

NASDAQ AMGN traded down $1.24 on Friday, reaching $312.45. The company had a trading volume of 3,518,174 shares, compared to its average volume of 2,437,626. 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. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72. The firm has a 50-day moving average of $301.56 and a 200-day moving average of $292.10. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.98 EPS. On average, equities research analysts anticipate that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. 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 dropped their price objective 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. UBS Group upped their price objective on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley upped their price objective on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $307.35.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Company 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.