Sagespring Wealth Partners LLC Sells 2,343 Shares of Amgen Inc. (NASDAQ:AMGN)

Sagespring Wealth Partners LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 16.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 12,162 shares of the medical research company’s stock after selling 2,343 shares during the period. Sagespring Wealth Partners LLC’s holdings in Amgen were worth $3,789,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors increased its holdings in Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after acquiring an additional 6,029,058 shares during the last quarter. Norges Bank purchased a new stake in Amgen in the 4th quarter worth about $1,541,991,000. GAMMA Investing LLC increased its holdings in Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the last quarter. Capital International Investors increased its holdings in Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after acquiring an additional 3,495,503 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Amgen by 25.4% in the 4th 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 acquiring an additional 2,672,975 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent research reports. UBS Group reissued a “neutral” rating and issued a $315.00 price objective (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Guggenheim assumed coverage on Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective for the company. Royal Bank of Canada cut their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Piper Sandler cut their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $309.22.

Amgen Price Performance

Shares of AMGN stock opened at $295.22 on Monday. The stock has a market capitalization of $158.74 billion, a price-to-earnings ratio of 39.10, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 0.95 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 fifty day simple moving average of $281.33 and a two-hundred day simple moving average of $285.66.

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, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the business earned $3.96 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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.