Valeo Financial Advisors LLC Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Valeo Financial Advisors LLC lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,081 shares of the medical research company’s stock after selling 1,535 shares during the period. Valeo Financial Advisors LLC’s holdings in Amgen were worth $12,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. BOK Financial Private Wealth Inc. acquired a new position in shares of Amgen in the fourth quarter worth about $29,000. United Community Bank acquired a new stake in shares of Amgen during the fourth quarter worth approximately $29,000. Planned Solutions Inc. bought a new stake in shares of Amgen in the fourth quarter worth $30,000. Delos Wealth Advisors LLC raised its holdings in Amgen by 2,500.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Finally, Hartford Financial Management Inc. boosted its stake in Amgen by 56.9% during the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 0.4 %

NASDAQ:AMGN traded down $1.39 on Wednesday, hitting $309.38. 995,630 shares of the company’s stock traded hands, compared to its average volume of 2,759,288. The firm has a 50-day moving average price of $303.09 and a 200-day moving average price of $292.80. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The company has a market cap of $165.96 billion, a PE ratio of 44.50, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same period in the previous year, the company posted $3.98 EPS. Amgen’s revenue was up 22.0% on a year-over-year basis. Equities analysts anticipate that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 14th. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. UBS Group raised their price target on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Truist Financial restated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. Finally, TD Cowen reduced their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $307.35.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.69% of the stock is owned by insiders.

Amgen Company Profile

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.