Atlas Private Wealth Advisors Sells 75 Shares of Amgen Inc. (NASDAQ:AMGN)

Atlas Private Wealth Advisors decreased its position in Amgen Inc. (NASDAQ:AMGN) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,590 shares of the medical research company’s stock after selling 75 shares during the period. Atlas Private Wealth Advisors’ holdings in Amgen were worth $1,741,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AMGN. Capital World Investors boosted its stake in Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. Norges Bank purchased a new position in Amgen in the 4th quarter worth about $1,541,991,000. GAMMA Investing LLC raised its position in 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 worth $1,140,768,000 after buying an additional 3,653,205 shares during the last quarter. Capital International Investors raised its position in Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after buying an additional 3,495,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Amgen by 25.4% in the 4th 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 buying an additional 2,672,975 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on 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 approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Piper Sandler decreased their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Cantor Fitzgerald assumed coverage on Amgen in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 target price for the company. Royal Bank of Canada decreased their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, Bank of America upped their price target 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. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $309.22.

Amgen Trading Down 0.7%

AMGN stock opened at $295.22 on Friday. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The company has a market capitalization of $158.74 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.63 and a beta of 0.51. The business has a 50 day simple moving average of $281.33 and a two-hundred day simple moving average of $285.62.

Amgen (NASDAQ:AMGN) last posted its quarterly 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. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.96 EPS. Research analysts anticipate that Amgen Inc. will post 20.62 EPS 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.