Amgen Inc. (NASDAQ:AMGN) Position Trimmed by Oak Asset Management LLC

Oak Asset Management LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,537 shares of the medical research company’s stock after selling 162 shares during the quarter. Amgen makes up 6.8% of Oak Asset Management LLC’s investment portfolio, making the stock its 2nd largest holding. Oak Asset Management LLC’s holdings in Amgen were worth $18,065,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Compass Ion Advisors LLC lifted its holdings in shares of Amgen by 4.1% during the 1st quarter. Compass Ion Advisors LLC now owns 5,192 shares of the medical research company’s stock valued at $1,476,000 after buying an additional 204 shares during the last quarter. Koss Olinger Consulting LLC acquired a new stake in shares of Amgen during the 1st quarter valued at about $1,062,000. Arlington Financial Advisors LLC lifted its holdings in shares of Amgen by 1.0% during the 1st quarter. Arlington Financial Advisors LLC now owns 25,694 shares of the medical research company’s stock valued at $7,305,000 after buying an additional 261 shares during the last quarter. Fiduciary Alliance LLC lifted its holdings in Amgen by 1.0% in the 1st quarter. Fiduciary Alliance LLC now owns 25,742 shares of the medical research company’s stock worth $7,286,000 after purchasing an additional 264 shares during the last quarter. Finally, Trilogy Capital Inc. lifted its holdings in Amgen by 3.8% in the 1st quarter. Trilogy Capital Inc. now owns 9,920 shares of the medical research company’s stock worth $2,820,000 after purchasing an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction dated Friday, May 3rd. The stock was 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 in the company, valued at $3,094,268.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.69% of the company’s stock.

Amgen Trading Down 0.4 %

NASDAQ:AMGN opened at $312.45 on Monday. Amgen Inc. has a 1-year low of $218.44 and a 1-year high of $329.72. The business’s 50-day moving average price is $301.56 and its two-hundred day moving average price is $292.30. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The firm has a market capitalization of $167.61 billion, a price-to-earnings ratio of 44.64, a PEG ratio of 2.82 and a beta of 0.58.

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, topping the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the company earned $3.98 earnings per share. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, equities analysts expect that Amgen Inc. will post 19.47 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMGN. BMO Capital Markets boosted their target price on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada boosted their price objective on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. TD Cowen lowered their price target on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Finally, Raymond James started coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Moderate Buy” and an average target price of $307.35.

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.