Beacon Financial Group Sells 533 Shares of Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Beacon Financial Group trimmed its stake in Amgen Inc. (NASDAQ:AMGN – Free Report) by 4.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,880 shares of the medical research company’s stock after selling 533 shares during the period. Beacon Financial Group’s holdings in Amgen were worth $3,390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC acquired a new stake in shares of Amgen in the fourth quarter worth $25,000. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position in 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 worth $33,000 after acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new stake in Amgen during the fourth quarter valued at about $34,000. Finally, Atala Financial Inc bought a new position in shares of Amgen in the fourth quarter worth about $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on AMGN shares. Wells Fargo & Company restated an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $309.22.

Check Out Our Latest Stock Report on Amgen

Amgen Trading Down 0.9%

Shares of AMGN stock opened at $287.01 on Thursday. The company has a market capitalization of $154.33 billion, a P/E ratio of 38.01, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a 50-day moving average price of $282.39 and a 200 day moving average price of $285.31.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Amgen’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.96 EPS. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Company Profile

(Free Report)

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.

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