City State Bank Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

City State Bank lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,300 shares of the medical research company’s stock after selling 75 shares during the quarter. City State Bank’s holdings in Amgen were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMGN. Beck Mack & Oliver LLC lifted its holdings in Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock valued at $1,205,000 after acquiring an additional 34 shares during the period. Continuum Advisory LLC lifted its holdings in Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after acquiring an additional 35 shares during the period. Zullo Investment Group Inc. lifted its holdings in Amgen by 2.8% in the fourth quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after acquiring an additional 37 shares during the period. Trillium Asset Management LLC lifted its holdings in Amgen by 4.2% in the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after acquiring an additional 37 shares during the period. Finally, Great Lakes Retirement Inc. lifted its holdings in Amgen by 0.4% in the fourth quarter. Great Lakes Retirement Inc. now owns 10,220 shares of the medical research company’s stock valued at $2,664,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 1.1%

NASDAQ AMGN opened at $290.33 on Friday. The business has a fifty day moving average price of $281.57 and a 200 day moving average price of $285.44. Amgen Inc. has a one year low of $253.30 and a one year 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 company has a market cap of $156.11 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51.

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

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president now owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of analyst reports. Piper Sandler decreased their price target on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a report on Friday, May 16th. UBS Group reiterated a “neutral” rating and set a $315.00 target price (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Cantor Fitzgerald initiated coverage on Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 target price on the stock. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Finally, Mizuho increased their target price on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has a consensus rating of “Hold” and a consensus 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.