Northeast Investment Management Sells 154 Shares of Amgen Inc. (NASDAQ:AMGN)

Northeast Investment Management lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.0% during the first quarter, Holdings Channel.com reports. The firm owned 4,985 shares of the medical research company’s stock after selling 154 shares during the quarter. Northeast Investment Management’s holdings in Amgen were worth $1,553,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors boosted its holdings in Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after acquiring an additional 6,029,058 shares in the last quarter. Norges Bank purchased a new position in shares of Amgen in the 4th quarter valued at approximately $1,541,991,000. GAMMA Investing LLC raised its position in shares of Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock valued at $1,140,768,000 after purchasing an additional 3,653,205 shares during the last quarter. Capital International Investors raised its position in shares of Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $293.43 on Wednesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The business’s fifty day simple moving average is $280.93 and its 200-day simple moving average is $285.41. The firm has a market cap of $157.78 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

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

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of analyst reports. UBS Group reissued a “neutral” rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Piper Sandler cut their price objective on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Guggenheim began coverage on Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price target for the company. Finally, Cantor Fitzgerald began coverage on Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and an average target price of $309.22.

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.