Sylvest Advisors LLC Has $862,000 Position in Amgen Inc. (NASDAQ:AMGN)

Sylvest Advisors LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,767 shares of the medical research company’s stock after selling 86 shares during the quarter. Amgen comprises 0.5% of Sylvest Advisors LLC’s portfolio, making the stock its 28th biggest position. Sylvest Advisors LLC’s holdings in Amgen were worth $862,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Advisor Resource Council bought a new position in shares of Amgen during the 1st quarter valued at about $1,331,000. Fisher Asset Management LLC lifted its holdings in shares of Amgen by 285.4% during the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock valued at $102,820,000 after purchasing an additional 292,137 shares in the last quarter. Aire Advisors LLC increased its holdings in Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock worth $3,461,000 after purchasing an additional 2,762 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new position in Amgen during the 4th quarter worth about $3,531,000. Finally, Mariner LLC increased its holdings in Amgen by 2.2% during the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company’s stock worth $238,316,000 after purchasing an additional 19,250 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Royal Bank Of Canada cut their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Piper Sandler cut their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Finally, Bank of America increased their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Two investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $309.22.

Amgen Stock Performance

AMGN opened at $277.49 on Wednesday. The firm has a market cap of $149.21 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 2.46 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 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The business’s fifty day moving average is $281.03 and its 200-day moving average is $286.04.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.96 EPS. Sell-side analysts expect 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.