Arthur M. Cohen & Associates LLC Sells 1,810 Shares of Amgen Inc. (NASDAQ:AMGN)

Arthur M. Cohen & Associates LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 23.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,756 shares of the medical research company’s stock after selling 1,810 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in Amgen were worth $1,793,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMGN. Tallon Kerry Patrick bought a new position in shares of Amgen in the fourth quarter worth approximately $270,000. Brighton Jones LLC increased its position in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Optas LLC increased its position in shares of Amgen by 15.6% in the fourth quarter. Optas LLC now owns 1,180 shares of the medical research company’s stock worth $308,000 after purchasing an additional 159 shares during the last quarter. Calamos Wealth Management LLC increased its position in shares of Amgen by 2.2% in the fourth quarter. Calamos Wealth Management LLC now owns 2,459 shares of the medical research company’s stock worth $641,000 after purchasing an additional 54 shares during the last quarter. Finally, Sargent Investment Group LLC boosted its stake in Amgen by 17.9% in the fourth quarter. Sargent Investment Group LLC now owns 1,243 shares of the medical research company’s stock worth $336,000 after buying an additional 189 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

NASDAQ:AMGN opened at $287.01 on Thursday. The firm has a market cap of $154.33 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The business has a 50 day moving average price of $282.39 and a 200-day moving average price of $285.31.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.96 earnings per share. Equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group reaffirmed a “neutral” rating and issued a $315.00 target price (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Citigroup reaffirmed a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Finally, Guggenheim assumed coverage on Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price for the company. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $309.22.

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.