Hemington Wealth Management Sells 522 Shares of Amgen Inc. (NASDAQ:AMGN)

Hemington Wealth Management lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 17.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,528 shares of the medical research company’s stock after selling 522 shares during the quarter. Hemington Wealth Management’s holdings in Amgen were worth $719,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMGN. Tompkins Financial Corp raised its holdings in Amgen by 10.5% in the third quarter. Tompkins Financial Corp now owns 30,311 shares of the medical research company’s stock worth $8,146,000 after purchasing an additional 2,889 shares in the last quarter. Comerica Bank boosted its holdings in Amgen by 410.3% during the 3rd quarter. Comerica Bank now owns 253,228 shares of the medical research company’s stock valued at $68,058,000 after acquiring an additional 203,602 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of Amgen in the 3rd quarter worth $2,459,000. Verity Asset Management Inc. increased its position in Amgen by 8.8% during the 3rd quarter. Verity Asset Management Inc. now owns 3,825 shares of the medical research company’s stock valued at $1,028,000 after buying an additional 309 shares in the last quarter. Finally, Graham Capital Management L.P. increased its holdings in shares of Amgen by 81.7% in the third quarter. Graham Capital Management L.P. now owns 2,484 shares of the medical research company’s stock valued at $668,000 after purchasing an additional 1,117 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Insider Transactions at Amgen

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

Wall Street Analysts Forecast Growth

AMGN has been the topic of several research reports. TD Cowen decreased their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. BMO Capital Markets raised their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Morgan Stanley cut their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $307.00.

Amgen Trading Up 1.1 %

NASDAQ AMGN traded up $3.42 during trading on Thursday, hitting $325.09. 2,253,879 shares of the company’s stock traded hands, compared to its average volume of 2,721,015. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The stock has a fifty day moving average of $307.86 and a two-hundred day moving average of $294.15. The firm has a market cap of $174.39 billion, a P/E ratio of 46.38, a PEG ratio of 2.81 and a beta of 0.58. Amgen Inc. has a 12-month low of $224.09 and a 12-month high of $329.72.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. Amgen’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.98 earnings per share. As a group, sell-side analysts expect that Amgen Inc. will post 19.47 EPS for the current 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.