Amgen Inc. (NASDAQ:AMGN) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 52.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,137,491 shares of the medical research company’s stock after selling 3,427,219 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.58% of Amgen worth $892,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital International Investors lifted its holdings in Amgen by 547.8% in the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares during the last quarter. Norges Bank bought a new stake in Amgen in the fourth quarter worth about $1,556,912,000. Vanguard Group Inc. boosted its holdings in Amgen by 6.2% during the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after buying an additional 3,045,657 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Amgen in the 4th quarter worth $4,589,900,000. Finally, Capital Wealth Planning LLC boosted its position in shares of Amgen by 28,684.1% in the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock valued at $236,924,000 after purchasing an additional 830,405 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Amgen stock traded up $0.55 during mid-day trading on Friday, hitting $334.85. 1,515,471 shares of the company were exchanged, compared to its average volume of 1,821,447. The company has a market capitalization of $179.62 billion, a PE ratio of 47.84, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The business has a fifty day moving average of $313.96 and a 200 day moving average of $297.29. Amgen Inc. has a 1-year low of $228.21 and a 1-year high of $346.85. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. The firm 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%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the firm posted $3.98 EPS. As a group, sell-side analysts expect that Amgen Inc. will post 19.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a report on Friday, April 12th. Mizuho raised their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Argus upped their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. UBS Group raised their price objective on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. 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 research report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.63.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’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 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen 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.