Pettinga Financial Advisors LLC Has $260,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Pettinga Financial Advisors LLC cut its position in Amgen Inc. (NASDAQ:AMGN) by 7.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 833 shares of the medical research company’s stock after selling 70 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Amgen were worth $260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC boosted its holdings in shares of Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock valued at $1,205,000 after buying an additional 34 shares during the period. Continuum Advisory LLC boosted its position in Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock worth $1,343,000 after buying an additional 35 shares during the period. Octavia Wealth Advisors LLC raised its holdings in Amgen by 1.5% during the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock worth $759,000 after purchasing an additional 35 shares during the last quarter. Trillium Asset Management LLC raised its holdings in Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after purchasing an additional 37 shares during the last quarter. Finally, Affinity Capital Advisors LLC raised its holdings in Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock worth $246,000 after purchasing an additional 37 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Down 1.5%

Shares of NASDAQ:AMGN opened at $292.51 on Wednesday. The stock’s 50-day moving average is $284.34 and its 200 day moving average is $288.57. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The company has a market cap of $157.29 billion, a PE ratio of 26.69, a P/E/G ratio of 2.68 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data 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 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the previous year, the firm posted $3.96 EPS. The business’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president directly owned 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMGN shares. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Guggenheim initiated coverage on Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price target for the company. Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Piper Sandler reissued an “overweight” rating and issued a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $307.82.

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.