Inlet Private Wealth LLC reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,573 shares of the medical research company’s stock after selling 565 shares during the quarter. Amgen accounts for approximately 2.5% of Inlet Private Wealth LLC’s portfolio, making the stock its 7th largest holding. Inlet Private Wealth LLC’s holdings in Amgen were worth $6,500,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Price Wealth LLC grew its position in shares of Amgen by 42.9% in the second quarter. Price Wealth LLC now owns 140 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 42 shares during the last quarter. Lake Point Wealth Management grew its position in shares of Amgen by 1,590.0% in the first quarter. Lake Point Wealth Management now owns 169 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 159 shares during the last quarter. Campbell Wealth Management acquired a new stake in shares of Amgen in the second quarter valued at approximately $51,000. Demars Financial Group LLC acquired a new stake in shares of Amgen in the second quarter valued at approximately $53,000. Finally, 1776 Wealth LLC acquired a new stake in shares of Amgen in the second quarter valued at approximately $59,000. Institutional investors own 75.23% of the company’s stock.
NASDAQ:AMGN traded up $0.71 during mid-day trading on Friday, hitting $235.72. The stock had a trading volume of 2,059,919 shares, compared to its average volume of 2,885,637. The stock has a market capitalization of $138.06 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 2.11 and a beta of 0.81. The company has a 50 day simple moving average of $246.43 and a 200-day simple moving average of $237.88. Amgen Inc. has a 52 week low of $177.05 and a 52 week high of $264.97. The company has a current ratio of 2.18, a quick ratio of 1.81 and a debt-to-equity ratio of 3.20.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, July 28th. The medical research company reported $4.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.81 by $0.44. The firm had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.19 billion. Amgen had a net margin of 30.04% and a return on equity of 91.98%. Amgen’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $3.97 EPS. As a group, equities research analysts anticipate that Amgen Inc. will post 15.66 earnings per share for the current year.
In other news, Director R Sanders Williams sold 250 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $242.95, for a total value of $60,737.50. Following the completion of the sale, the director now directly owns 5,159 shares in the company, valued at $1,253,379.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald D. Sugar sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $241.02, for a total transaction of $241,020.00. Insiders sold 2,250 shares of company stock valued at $561,548 over the last three months. Insiders own 0.36% of the company’s stock.
AMGN has been the topic of several research reports. Morgan Stanley lowered their price target on shares of Amgen from $281.00 to $273.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. Truist upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Monday, October 12th. Cantor Fitzgerald raised their target price on shares of Amgen from $263.00 to $279.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. ValuEngine lowered shares of Amgen from a “hold” rating to a “sell” rating in a research report on Thursday, October 8th. Finally, Jefferies Financial Group raised their target price on shares of Amgen from $285.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $255.08.
Amgen Company Profile
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.
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