Independence Bank of Kentucky Sells 50 Shares of Amgen Inc. (NASDAQ:AMGN)

Independence Bank of Kentucky cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 1.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,910 shares of the medical research company’s stock after selling 50 shares during the quarter. Independence Bank of Kentucky’s holdings in Amgen were worth $907,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AMGN. Vanguard Group Inc. lifted its position in shares of Amgen by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock worth $13,741,409,000 after purchasing an additional 339,522 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after buying an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Amgen by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock worth $3,245,881,000 after buying an additional 352,143 shares during the period. Capital International Investors boosted its position in Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares in the last quarter. Finally, Capital World Investors boosted its position in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after acquiring an additional 6,029,058 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is owned by insiders.

Amgen Price Performance

Shares of NASDAQ AMGN opened at $290.33 on Friday. The firm has a market cap of $156.11 billion, a P/E ratio of 38.45, a PEG ratio of 2.63 and a beta of 0.51. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a 50 day moving average of $281.57 and a 200 day moving average of $285.42.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 earnings per share. As a group, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Mizuho increased their price objective on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Guggenheim initiated coverage on Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective for the company. Royal Bank of Canada dropped their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Bank of America increased their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $309.22.

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.