PKO Investment Management Joint Stock Co Sells 13,200 Shares of Amgen Inc. (NASDAQ:AMGN)

PKO Investment Management Joint Stock Co reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 60.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,600 shares of the medical research company’s stock after selling 13,200 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Amgen were worth $2,679,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its stake in shares of Amgen by 144.1% in the 1st quarter. Rakuten Securities Inc. now owns 166 shares of the medical research company’s stock worth $52,000 after buying an additional 98 shares during the last quarter. Lesa Sroufe & Co bought a new stake in Amgen during the first quarter worth $2,645,000. NBT Bank N A NY lifted its holdings in Amgen by 2.7% during the first quarter. NBT Bank N A NY now owns 5,673 shares of the medical research company’s stock worth $1,767,000 after acquiring an additional 151 shares during the period. Consilium Wealth Advisory LLC grew its stake in Amgen by 33.7% in the 1st quarter. Consilium Wealth Advisory LLC now owns 4,773 shares of the medical research company’s stock valued at $1,487,000 after purchasing an additional 1,203 shares during the period. Finally, Vista Investment Partners LLC purchased a new stake in shares of Amgen during the 1st quarter valued at $203,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMGN. Bank of America boosted their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. UBS Group restated a “neutral” rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Piper Sandler cut their price target on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, Mizuho boosted their price objective on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $309.22.

Amgen Trading Up 0.1%

Shares of AMGN opened at $295.56 on Tuesday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a market capitalization of $158.92 billion, a P/E ratio of 39.15, a P/E/G ratio of 2.63 and a beta of 0.51. The firm’s 50 day simple moving average is $281.64 and its 200 day simple moving average is $285.75.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping 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 net margin of 12.24% and a return on equity of 176.32%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.96 EPS. Sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

About Amgen

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.