Revolve Wealth Partners LLC reduced its stake in shares of Amgen Inc. (NASDAQ: AMGN – Get Rating) by 34.0% in the first quarter, HoldingsChannel.com reports. The fund owned 18,835 shares of the medical research company stock after selling 9,689 shares during the quarter. Amgen accounts for approximately 1.3% of Revolve Wealth Partners LLC’s portfolio, making the stock its 20th largest position. Revolve Wealth Partners LLC’s holdings in Amgen were worth $ 4,555,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of AMGN. Dixon Hughes Goodman Wealth Advisors LLC raised its position in Amgen by 905.2% in the 1st quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 1,156 shares of the medical research company stock worth $ 280,000 after purchasing an additional 1,041 shares during the period. Boston Partners raised its position in Amgen by 57.1% in the 4th quarter. Boston Partners now owns 1,135,035 shares of the medical research company stock worth $ 255,349,000 after purchasing an additional 412,337 shares during the period. Avantax Advisory Services Inc. raised its position in Amgen by 2.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 30,188 shares of the medical research company stock worth $ 6,793,000 after purchasing an additional 613 shares during the period. O ROURKE & COMPANY Inc purchased a new position in Amgen in the 4th quarter worth $ 260,000. Finally, Cullinan Associates Inc. raised its position in Amgen by 2.2% in the 4th quarter. Cullinan Associates Inc. now owns 197,501 shares of the medical research company stock worth $ 44,432,000 after purchasing an additional 4,345 shares during the period. 79.01% of the stock is owned by institutional investors.
A number of equities analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Amgen from $ 255.00 to $ 260.00 in a research report on Thursday, April 28th. SVB Leerink initiated coverage on shares of Amgen in a research report on Monday, May 23rd. They issued a “market perform” rating and a $ 256.00 price objective on the stock. BMO Capital Markets decreased their price objective on shares of Amgen from $ 263.00 to $ 243.00 in a research report on Thursday, April 28th. Morgan Stanley decreased their price objective on shares of Amgen from $ 238.00 to $ 237.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 12th. Finally, Mizuho boosted their price objective on shares of Amgen from $ 202.00 to $ 208.00 in a research report on Tuesday, May 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $ 242.57.
In other news, Director R Sanders Williams sold 600 shares of the company stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $ 250.00, for a total value of $ 150,000.00. Following the transaction, the director now owns 5,501 shares in the company, valued at $ 1,375,250. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jonathan P. Graham sold 13,500 shares of the company stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $ 241.81, for a total transaction of $ 3,264,435.00. Following the completion of the transaction, the executive vice president now owns 37,333 shares in the company, valued at approximately $ 9,027,492.73. The disclosure for this sale can be found here. Insiders own 0.46% of the company stock.
Shares of AMGN opened at $ 244.85 on Tuesday. The firm’s 50-day moving average price is $ 244.09 and its 200-day moving average price is $ 235.72. The firm has a market capitalization of $ 130.80 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.10 and a beta of 0.57. The company has a current ratio of 1.44, a quick ratio of 1.09 and a debt-to-equity ratio of 39.31. Amgen Inc. has a 1-year low of $ 198.64 and a 1-year high of $ 258.45.
Amgen (NASDAQ: AMGN – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The medical research company reported $ 4.25 EPS for the quarter, topping the consensus estimate of $ 4.22 by $ 0.03. Amgen had a net margin of 21.75% and a return on equity of 165.95%. The business had revenue of $ 6.24 billion for the quarter, compared to analyst estimates of $ 6.09 billion. During the same quarter in the previous year, the firm posted $ 3.70 earnings per share. On average, research analysts forecast that Amgen Inc. will post 17.44 EPS for the current fiscal year.
About Amgen: (Get Rating)
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 products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due to a low white blood cell count in cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet’s disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.
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