Amgen Inc. (NASDAQ:AMGN) Holdings Cut by Kathmere Capital Management LLC

Kathmere Capital Management LLC decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,615 shares of the medical research company’s stock after selling 297 shares during the quarter. Kathmere Capital Management LLC’s holdings in Amgen were worth $743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Harbour Capital Advisors LLC raised its holdings in shares of Amgen by 5.2% during the 1st quarter. Harbour Capital Advisors LLC now owns 1,146 shares of the medical research company’s stock valued at $317,000 after purchasing an additional 57 shares in the last quarter. DeDora Capital Inc. raised its holdings in Amgen by 22.1% in the 1st quarter. DeDora Capital Inc. now owns 5,308 shares of the medical research company’s stock worth $1,509,000 after acquiring an additional 959 shares during the period. Pinnacle Bancorp Inc. raised its holdings in Amgen by 10.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 493 shares of the medical research company’s stock worth $140,000 after acquiring an additional 48 shares during the period. Brookmont Capital Management raised its holdings in Amgen by 0.9% in the 1st quarter. Brookmont Capital Management now owns 10,339 shares of the medical research company’s stock worth $2,940,000 after acquiring an additional 90 shares during the period. Finally, Capital Asset Advisory Services LLC raised its holdings in Amgen by 18.7% in the 1st quarter. Capital Asset Advisory Services LLC now owns 1,759 shares of the medical research company’s stock worth $475,000 after acquiring an additional 277 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMGN. Raymond James began coverage on shares of Amgen in a report on Thursday, March 28th. They issued a “market perform” rating on the stock. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Mizuho lifted their target price on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Morgan Stanley lifted their target price on shares of Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets raised their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $307.35.

Amgen Trading Down 0.4 %

Shares of AMGN stock opened at $312.45 on Friday. Amgen Inc. has a 12-month low of $218.44 and a 12-month high of $329.72. The company has a market capitalization of $167.61 billion, a P/E ratio of 44.64, a P/E/G ratio of 2.83 and a beta of 0.60. The firm has a 50-day moving average price of $301.56 and a 200 day moving average price of $292.23. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period last year, the firm posted $3.98 EPS. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. Research analysts forecast that Amgen Inc. will post 19.47 earnings per share 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.