Amgen Inc. (NASDAQ:AMGN) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 306,720 shares of the medical research company’s stock after selling 24,582 shares during the period. Fifth Third Bancorp’s holdings in Amgen were worth $95,559,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMGN. Centricity Wealth Management LLC purchased a new position in Amgen during the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. acquired a new position in Amgen in the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE grew its position in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC purchased a new position in Amgen during the 4th quarter worth $34,000. Finally, Atala Financial Inc acquired a new stake in Amgen in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $291.81 on Thursday. The company’s fifty day moving average is $280.88 and its two-hundred day moving average is $285.46. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market cap of $156.91 billion, a P/E ratio of 38.65, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last released its 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 company had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter in the previous year, the business posted $3.96 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president now directly owns 8,162 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Guggenheim initiated coverage on Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective for the company. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Piper Sandler reduced their price target on Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Finally, Cantor Fitzgerald began coverage on Amgen in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 target price for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $309.22.

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.