West Oak Capital LLC Has $2.66 Million Stake in Amgen Inc. (NASDAQ:AMGN)

West Oak Capital LLC lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,523 shares of the medical research company’s stock after selling 100 shares during the period. Amgen makes up 1.0% of West Oak Capital LLC’s holdings, making the stock its 28th biggest holding. West Oak Capital LLC’s holdings in Amgen were worth $2,655,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Centricity Wealth Management LLC bought a new position in shares of Amgen in the fourth quarter worth about $25,000. Pinney & Scofield Inc. bought a new stake in Amgen in the fourth quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE lifted its stake in Amgen by 66.2% in the fourth 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 period. Synergy Investment Management LLC bought a new position in shares of Amgen during the 4th quarter worth approximately $34,000. Finally, Atala Financial Inc bought a new position in Amgen during the fourth quarter worth $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMGN. Bank of America lifted their price target on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Johnson Rice set a $294.00 price objective on Amgen in a research note on Wednesday, March 5th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Guggenheim assumed coverage on Amgen in a research note on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price target for the company. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $309.22.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’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 completion of the transaction, 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. Insiders own 0.76% of the company’s stock.

Amgen Price Performance

Amgen stock opened at $291.81 on Thursday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The business’s 50 day simple moving average is $280.88 and its 200 day simple moving average is $285.46. The company has a market cap of $156.91 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.96 EPS. Sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

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.