Thrive Wealth Management LLC Sells 36 Shares of Amgen Inc. (NASDAQ:AMGN)

Thrive Wealth Management LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.2% during the first quarter, HoldingsChannel.com reports. The fund owned 2,852 shares of the medical research company’s stock after selling 36 shares during the period. Thrive Wealth Management LLC’s holdings in Amgen were worth $889,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock worth $13,741,409,000 after purchasing an additional 339,522 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after buying an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock worth $3,245,881,000 after buying an additional 352,143 shares during the last quarter. Capital International Investors increased its holdings in shares of Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after buying an additional 3,495,503 shares in the last quarter. Finally, Capital World Investors lifted its stake in shares of Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $287.01 on Thursday. The stock has a market capitalization of $154.33 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The stock’s 50 day moving average price is $282.39 and its two-hundred day moving average price is $285.31.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.96 earnings per share. On average, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMGN. Mizuho boosted their price objective on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Bank of America lifted their price target on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Royal Bank of Canada lowered their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. UBS Group reiterated a “neutral” rating and issued a $315.00 price objective (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Piper Sandler reduced their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $309.22.

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.