Amgen Inc. (NASDAQ:AMGN) Position Lowered by Coastline Trust Co

by · The Markets Daily

Coastline Trust Co reduced its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 6.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,030 shares of the medical research company’s stock after selling 1,207 shares during the quarter. Coastline Trust Co’s holdings in Amgen were worth $5,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First Pacific Financial raised its stake in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after acquiring an additional 67 shares during the period. Pinney & Scofield Inc. acquired a new position in Amgen during the 4th quarter valued at approximately $26,000. Ritter Daniher Financial Advisory LLC DE boosted 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 valued at $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC bought 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 worth $34,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Guggenheim began coverage on shares of Amgen in a report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price target for the company. Royal Bank Of Canada cut their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. 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. Piper Sandler restated an “overweight” rating and issued a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $307.82.

View Our Latest Report on AMGN

Amgen Stock Up 4.1%

Shares of Amgen stock opened at $290.52 on Wednesday. The stock’s fifty day moving average is $281.37 and its 200-day moving average is $286.28. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The firm has a market capitalization of $156.22 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 2.53 and a beta of 0.49. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.96 EPS. Equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Amgen 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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