RDA Financial Network Sells 590 Shares of Amgen Inc. (NASDAQ:AMGN)

RDA Financial Network decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 30.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,338 shares of the medical research company’s stock after selling 590 shares during the period. RDA Financial Network’s holdings in Amgen were worth $417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Ascent Wealth Partners LLC raised its position in shares of Amgen by 0.7% in the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after purchasing an additional 64 shares during the period. ICICI Prudential Asset Management Co Ltd increased its stake in shares of Amgen by 242.2% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock worth $6,255,000 after purchasing an additional 16,985 shares during the period. Fisher Asset Management LLC increased its stake in shares of Amgen by 285.4% during the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock worth $102,820,000 after purchasing an additional 292,137 shares during the period. Aire Advisors LLC increased its stake in shares of Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock worth $3,461,000 after purchasing an additional 2,762 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. bought a new position in Amgen during the 4th quarter worth $3,531,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of Amgen stock opened at $290.33 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The stock has a market cap of $156.11 billion, a price-to-earnings ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51. The company’s fifty day moving average is $281.57 and its 200 day moving average is $285.42.

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

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of recent research reports. UBS Group reaffirmed a “neutral” rating and set a $315.00 price target (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Royal Bank of Canada dropped their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Mizuho lifted their price target on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective on the stock. Finally, Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $309.22.

Insider Activity at Amgen

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