Sky Investment Group LLC Sells 100 Shares of Amgen Inc. (NASDAQ:AMGN)

Sky Investment Group LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.6% in the first quarter, HoldingsChannel reports. The fund owned 2,073 shares of the medical research company’s stock after selling 100 shares during the period. Sky Investment Group LLC’s holdings in Amgen were worth $646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Centricity Wealth Management LLC bought a new position in Amgen in the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC bought a new position in Amgen in the 4th quarter worth approximately $34,000. Finally, Atala Financial Inc bought a new position in Amgen in the 4th quarter worth approximately $34,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 1.9%

NASDAQ:AMGN opened at $297.29 on Friday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a market cap of $159.85 billion, a price-to-earnings ratio of 39.38, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The stock has a fifty day simple moving average of $281.03 and a 200-day simple moving average of $285.48. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share 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 business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period last year, the company earned $3.96 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMGN. Guggenheim began coverage on Amgen in a report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective on the stock. Johnson Rice set a $294.00 price objective on Amgen in a report on Wednesday, March 5th. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald began coverage on Amgen in a report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $309.22.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.76% 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.