Atlas Capital Advisors LLC Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Atlas Capital Advisors LLC lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 80.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,381 shares of the medical research company’s stock after selling 5,524 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Amgen were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Constitution Capital LLC bought a new position in Amgen in the first quarter worth approximately $218,000. Chemistry Wealth Management LLC lifted its position in Amgen by 20.0% during the first quarter. Chemistry Wealth Management LLC now owns 3,443 shares of the medical research company’s stock valued at $979,000 after purchasing an additional 573 shares in the last quarter. IAM Advisory LLC grew its holdings in Amgen by 2.0% during the first quarter. IAM Advisory LLC now owns 6,919 shares of the medical research company’s stock valued at $1,967,000 after purchasing an additional 138 shares during the period. Sound Income Strategies LLC increased its position in Amgen by 17.4% in the first quarter. Sound Income Strategies LLC now owns 1,080 shares of the medical research company’s stock worth $307,000 after buying an additional 160 shares in the last quarter. Finally, West Paces Advisors Inc. raised its stake in shares of Amgen by 2.1% in the first quarter. West Paces Advisors Inc. now owns 1,858 shares of the medical research company’s stock worth $528,000 after buying an additional 39 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several analyst reports. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. UBS Group lifted their target price on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Raymond James began coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. Mizuho boosted their price objective on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Finally, Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $307.35.

Insider Buying and Selling

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is currently owned by insiders.

Amgen Stock Performance

NASDAQ:AMGN opened at $313.69 on Friday. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The stock’s fifty day moving average is $299.67 and its 200 day moving average is $291.67. The firm has a market capitalization of $168.27 billion, a PE ratio of 44.81, a PEG ratio of 2.88 and a beta of 0.60. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week high of $329.72.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the business earned $3.98 EPS. On average, sell-side analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current year.

Amgen Company 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.