KG&L Capital Management LLC Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

KG&L Capital Management LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 29.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,753 shares of the medical research company’s stock after selling 1,128 shares during the quarter. KG&L Capital Management LLC’s holdings in Amgen were worth $858,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Advisor Resource Council bought a new stake in Amgen in the 1st quarter valued at about $1,331,000. Fisher Asset Management LLC boosted its position in Amgen by 285.4% during the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock worth $102,820,000 after purchasing an additional 292,137 shares during the period. Aire Advisors LLC increased its stake in shares of Amgen by 26.3% in the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock worth $3,461,000 after purchasing an additional 2,762 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Amgen in the fourth quarter valued at approximately $3,531,000. Finally, Mariner LLC lifted its stake in shares of Amgen by 2.2% during the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company’s stock valued at $238,316,000 after buying an additional 19,250 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction on 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 owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday. UBS Group reaffirmed a “neutral” rating and set a $315.00 target price (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Bank of America raised their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 target price on shares of Amgen in a report on Tuesday. Finally, Guggenheim began coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target on the stock. Two equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $309.22.

Amgen Stock Up 1.0%

Shares of Amgen stock opened at $280.35 on Thursday. The company’s 50 day moving average price is $280.99 and its 200-day moving average price is $286.00. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market capitalization of $150.75 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 2.51 and a beta of 0.51.

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