Amgen Inc. (NASDAQ:AMGN) Stock Position Decreased by Tower Wealth Partners Inc.

Tower Wealth Partners Inc. lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 29.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 998 shares of the medical research company’s stock after selling 418 shares during the period. Tower Wealth Partners Inc.’s holdings in Amgen were worth $311,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Centricity Wealth Management LLC bought a new stake in shares of Amgen during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen during the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE grew its position in shares of Amgen by 66.2% during 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 bought a new stake in shares of Amgen during the 4th quarter valued at about $34,000. Finally, Atala Financial Inc bought a new stake in shares of Amgen during the 4th quarter valued at about $34,000. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.76% of the company’s stock.

Amgen Stock Up 1.1%

NASDAQ AMGN opened at $290.33 on Friday. 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’s 50 day simple moving average is $281.57 and its 200 day simple moving average is $285.44. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market capitalization of $156.11 billion, a P/E ratio of 38.45, a PEG 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 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 business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the previous year, the firm earned $3.96 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank of Canada reduced their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. UBS Group reissued a “neutral” rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Finally, Mizuho boosted their target price on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $309.22.

About Amgen

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.