Founders Capital Management LLC Sells 111 Shares of Amgen Inc. (NASDAQ:AMGN)

Founders Capital Management LLC decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 19,053 shares of the medical research company’s stock after selling 111 shares during the quarter. Amgen makes up approximately 1.1% of Founders Capital Management LLC’s portfolio, making the stock its 23rd largest position. Founders Capital Management LLC’s holdings in Amgen were worth $5,936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tallon Kerry Patrick acquired a new position in Amgen in the fourth quarter valued at about $270,000. Brighton Jones LLC increased its stake in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Amgen in the fourth quarter valued at approximately $102,000. Wingate Wealth Advisors Inc. bought a new position in Amgen in the fourth quarter valued at approximately $52,000. Finally, International Private Wealth Advisors LLC increased its stake in Amgen by 7.5% in the fourth quarter. International Private Wealth Advisors LLC now owns 903 shares of the medical research company’s stock valued at $235,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Johnson Rice set a $294.00 price objective on shares of Amgen in a research note on Wednesday, March 5th. Bank of America increased their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Piper Sandler dropped their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of “Hold” and a consensus target price of $309.22.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $293.43 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock has a market cap of $157.78 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The stock’s fifty day simple moving average is $280.93 and its two-hundred day simple moving average is $285.41. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The business 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 firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.96 earnings per share. As a group, analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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.