Sky Investment Group LLC Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Sky Investment Group LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGNGet Rating) by 32.1% in the first quarter, Holdings Channel reports. The firm owned 2,143 shares of the medical research company’s stock after selling 1,015 shares during the period. Sky Investment Group LLC’s holdings in Amgen were worth $518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Pacifica Partners Inc. increased its position in shares of Amgen by 7.1% during the first quarter. Pacifica Partners Inc. now owns 601 shares of the medical research company’s stock valued at $137,000 after buying an additional 40 shares during the period. Gryphon Financial Partners LLC increased its holdings in Amgen by 4.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,040 shares of the medical research company’s stock worth $234,000 after acquiring an additional 44 shares during the period. Formidable Asset Management LLC lifted its stake in Amgen by 1.9% in the 4th quarter. Formidable Asset Management LLC now owns 2,376 shares of the medical research company’s stock worth $541,000 after purchasing an additional 45 shares in the last quarter. Sierra Capital LLC boosted its holdings in Amgen by 7.1% in the 4th quarter. Sierra Capital LLC now owns 678 shares of the medical research company’s stock valued at $153,000 after purchasing an additional 45 shares during the period. Finally, Samalin Investment Counsel LLC increased its holdings in shares of Amgen by 5.2% in the fourth quarter. Samalin Investment Counsel LLC now owns 932 shares of the medical research company’s stock worth $210,000 after purchasing an additional 46 shares during the period. Institutional investors own 79.01% of the company’s stock.

AMGN has been the topic of several recent analyst reports. Morgan Stanley lowered their price target on Amgen from $238.00 to $237.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 12th. BMO Capital Markets cut their price target on shares of Amgen from $263.00 to $243.00 in a research note on Thursday, April 28th. Piper Sandler raised their price objective on shares of Amgen from $255.00 to $260.00 in a research report on Thursday, April 28th. Barclays upped their target price on shares of Amgen from $233.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 12th. Finally, Oppenheimer raised their price objective on Amgen from $285.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, June 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $242.57.

Shares of NASDAQ AMGN traded up $1.13 during mid-day trading on Thursday, hitting $241.27. The stock had a trading volume of 85,084 shares, compared to its average volume of 3,428,608. The business has a 50 day moving average price of $244.62 and a two-hundred day moving average price of $234.69. Amgen Inc. has a 1 year low of $198.64 and a 1 year high of $258.45. The company has a debt-to-equity ratio of 39.31, a quick ratio of 1.09 and a current ratio of 1.44. The firm has a market cap of $128.89 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 2.05 and a beta of 0.57.

Amgen (NASDAQ:AMGNGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.22 by $0.03. The business had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.09 billion. Amgen had a net margin of 21.75% and a return on equity of 165.95%. During the same quarter last year, the firm earned $3.70 EPS. Equities research analysts predict that Amgen Inc. will post 17.44 EPS for the current fiscal year.

In other Amgen news, EVP Jonathan P. Graham sold 13,500 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $241.81, for a total transaction of $3,264,435.00. Following the transaction, the executive vice president now directly owns 37,333 shares of the company’s stock, valued at approximately $9,027,492.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R Sanders Williams sold 600 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $250.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now directly owns 5,501 shares of the company’s stock, valued at $1,375,250. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

About Amgen (Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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