Cognios Beta Neutral Large Cap Fund LP Sells 199 Shares of Amgen Inc. (NASDAQ:AMGN)

Cognios Beta Neutral Large Cap Fund LP cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,936 shares of the medical research company’s stock after selling 199 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in Amgen were worth $550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Graham Capital Management L.P. increased its position in shares of Amgen by 81.7% in the third quarter. Graham Capital Management L.P. now owns 2,484 shares of the medical research company’s stock worth $668,000 after purchasing an additional 1,117 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Amgen by 25.8% during the 3rd quarter. Wellington Management Group LLP now owns 135,854 shares of the medical research company’s stock worth $36,512,000 after acquiring an additional 27,874 shares during the last quarter. Diversified Trust Co grew its position in Amgen by 76.8% in the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after acquiring an additional 16,376 shares in the last quarter. Pure Financial Advisors LLC increased its stake in Amgen by 4.3% in the fourth quarter. Pure Financial Advisors LLC now owns 2,597 shares of the medical research company’s stock valued at $748,000 after acquiring an additional 106 shares during the last quarter. Finally, First Affirmative Financial Network raised its position in Amgen by 27.5% during the fourth quarter. First Affirmative Financial Network now owns 1,183 shares of the medical research company’s stock valued at $341,000 after purchasing an additional 255 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMGN. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Raymond James began coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating on the stock. Truist Financial restated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Argus increased their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, BMO Capital Markets boosted their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.63.

Amgen Trading Up 0.9 %

Shares of AMGN stock traded up $2.99 during trading hours on Tuesday, reaching $333.14. The company’s stock had a trading volume of 1,879,341 shares, compared to its average volume of 2,703,217. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a one year low of $224.34 and a one year high of $335.91. The stock has a market capitalization of $178.71 billion, a P/E ratio of 47.59, a P/E/G ratio of 2.99 and a beta of 0.58. The firm’s fifty day simple moving average is $310.45 and its 200 day simple moving average is $295.43.

Amgen (NASDAQ:AMGN) last released its quarterly 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. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter in the previous year, the business posted $3.98 earnings per share. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. Equities research analysts expect that Amgen Inc. will post 19.48 EPS for the current year.

Insider Activity at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the transaction, the senior vice president now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is owned by corporate insiders.

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.