Grimes & Company Inc. Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

Grimes & Company Inc. lessened its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.8% during the 1st quarter, Holdings Channel reports. The firm owned 91,534 shares of the medical research company’s stock after selling 730 shares during the quarter. Amgen comprises 0.9% of Grimes & Company Inc.’s investment portfolio, making the stock its 20th biggest holding. Grimes & Company Inc.’s holdings in Amgen were worth $28,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Amgen by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after buying an additional 339,522 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after buying an additional 2,672,975 shares during the period. Geode Capital Management LLC lifted its stake in shares of Amgen by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock valued at $3,245,881,000 after buying an additional 352,143 shares during the period. Capital International Investors lifted its stake in shares of Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after buying an additional 3,495,503 shares during the period. Finally, Capital World Investors lifted its stake in shares of Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock valued at $1,693,042,000 after buying an additional 6,029,058 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.1%

NASDAQ AMGN opened at $295.56 on Tuesday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The company has a market capitalization of $158.92 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company’s fifty day moving average price is $281.64 and its two-hundred day moving average price is $285.75.

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

Insider Transactions at Amgen

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 value of $434,520.00. Following the transaction, the senior vice president now directly owns 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMGN. Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Piper Sandler reduced their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. 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. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $309.22.

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.