Successful Portfolios LLC Decreases Holdings in Amgen Inc. (NASDAQ:AMGN)

Successful Portfolios LLC decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,475 shares of the medical research company’s stock after selling 126 shares during the quarter. Successful Portfolios LLC’s holdings in Amgen were worth $419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Amgen in the fourth quarter worth about $1,556,912,000. International Assets Investment Management LLC purchased a new stake in Amgen in the 4th quarter worth approximately $4,589,900,000. Royal Bank of Canada boosted its holdings in Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after purchasing an additional 751,947 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Amgen by 486.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after purchasing an additional 745,929 shares in the last quarter. Finally, abrdn plc increased its holdings in shares of Amgen by 150.4% in the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock worth $300,580,000 after purchasing an additional 626,810 shares during the period. Institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was 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 of the company’s stock, valued at $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.

Amgen Price Performance

Shares of 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 company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The business has a fifty day moving average price of $301.56 and a 200-day moving average price of $292.30. The company has a market capitalization of $167.61 billion, a PE ratio of 44.64, a PEG ratio of 2.82 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating 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 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 company earned $3.98 earnings per share. The company’s revenue was up 22.0% on a year-over-year basis. As a group, equities analysts expect that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Analyst Ratings Changes

AMGN has been the subject of a number of research reports. Truist Financial reissued a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Morgan Stanley raised their price target on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. BMO Capital Markets raised their price objective on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, TD Cowen cut their target price on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.35.

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.