TCI Wealth Advisors Inc. Lowers Stake in Amgen Inc. (NASDAQ:AMGN)

TCI Wealth Advisors Inc. cut its stake in Amgen Inc. (NASDAQ:AMGN) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,265 shares of the medical research company’s stock after selling 271 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Amgen were worth $1,017,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Beck Mack & Oliver LLC grew its stake in Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock valued at $1,205,000 after purchasing an additional 34 shares during the last quarter. Continuum Advisory LLC boosted its holdings in shares of Amgen by 0.7% in the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after buying an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC grew its position in shares of Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock worth $759,000 after buying an additional 35 shares during the last quarter. Zullo Investment Group Inc. raised its stake in shares of Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock worth $356,000 after acquiring an additional 37 shares in the last quarter. Finally, Trillium Asset Management LLC raised its stake in shares of Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after acquiring an additional 37 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Guggenheim initiated coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price for the company. Royal Bank Of Canada dropped their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. UBS Group reaffirmed a “neutral” rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Mizuho raised their price target on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Finally, Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Two investment 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $309.22.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm’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 directly owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.76% of the company’s stock.

Amgen Price Performance

NASDAQ:AMGN opened at $289.63 on Thursday. The firm’s fifty day moving average is $281.59 and its two-hundred day moving average is $285.81. The firm has a market cap of $155.74 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 2.62 and a beta of 0.51. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.96 earnings per share. Research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

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.