Mattern Wealth Management LLC Sells 6,270 Shares of Amgen Inc. (NASDAQ:AMGN)

Mattern Wealth Management LLC reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 67.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,960 shares of the medical research company’s stock after selling 6,270 shares during the period. Mattern Wealth Management LLC’s holdings in Amgen were worth $922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock worth $13,741,409,000 after buying an additional 339,522 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Amgen by 25.4% during the fourth 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 acquiring an additional 2,672,975 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Amgen by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock worth $3,245,881,000 after acquiring an additional 352,143 shares during the period. Capital International Investors boosted its holdings in Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares during the last quarter. Finally, Capital World Investors increased its position in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the company’s 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 transaction, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Mizuho lifted their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $309.22.

Amgen Stock Up 1.9%

Shares of NASDAQ AMGN opened at $277.49 on Wednesday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock’s fifty day simple moving average is $281.03 and its two-hundred day simple moving average is $286.04. The stock has a market capitalization of $149.21 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 2.46 and a beta of 0.51. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70.

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