Jaffetilchin Investment Partners LLC Cuts Stake in Amgen Inc. (NASDAQ:AMGN)

Jaffetilchin Investment Partners LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 53.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,834 shares of the medical research company’s stock after selling 2,145 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Amgen were worth $521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Capital International Investors increased its stake in Amgen by 547.8% in the 1st 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 position in shares of Amgen in the 4th quarter valued at about $1,556,912,000. Vanguard Group Inc. grew its position in Amgen by 6.2% in 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 acquiring an additional 3,045,657 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Amgen during the fourth quarter worth approximately $4,589,900,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Amgen by 137.1% in the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $3.06 during trading on Thursday, reaching $335.53. 2,279,777 shares of the company traded hands, compared to its average volume of 2,640,158. The firm’s fifty day simple moving average is $315.15 and its 200 day simple moving average is $297.88. 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 stock has a market cap of $179.99 billion, a P/E ratio of 47.84, a PEG ratio of 2.77 and a beta of 0.58. Amgen Inc. has a 12-month low of $228.21 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share 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 analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.98 EPS. As a group, research analysts anticipate that Amgen Inc. will post 19.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group lifted their price objective on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Mizuho upped their target price on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Royal Bank of Canada raised their price target on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Truist Financial reissued a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Finally, StockNews.com raised shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $312.63.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.69% of the company’s stock.

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.