Hartford Investment Management Co. Sells 432 Shares of Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Hartford Investment Management Co. reduced its stake in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,779 shares of the medical research company’s stock after selling 432 shares during the quarter. Hartford Investment Management Co.’s holdings in Amgen were worth $10,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Beck Mack & Oliver LLC raised its holdings in Amgen by 0.7% during the 4th 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 increased its position in Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after acquiring an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC raised its stake in shares of Amgen by 1.5% in the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock valued at $759,000 after acquiring an additional 35 shares during the period. Affinity Capital Advisors LLC raised its stake in shares of Amgen by 4.5% in the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after acquiring an additional 37 shares during the period. Finally, Accredited Investors Inc. lifted its holdings in shares of Amgen by 1.7% in the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock worth $674,000 after acquiring an additional 37 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction dated 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 directly owned 8,162 shares in the company, 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 Trading Down 2.1%

Shares of NASDAQ:AMGN opened at $295.10 on Friday. The company has a market capitalization of $158.68 billion, a PE ratio of 26.93, a P/E/G ratio of 2.61 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $340.89. The business’s fifty day simple moving average is $291.53 and its 200-day simple moving average is $291.66.

Amgen (NASDAQ:AMGN – Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.96 earnings per share. As a group, equities research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AMGN shares. Piper Sandler reiterated an “overweight” rating and set a $328.00 price target on shares of Amgen in a report on Friday, June 27th. Royal Bank Of Canada cut their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $307.27.

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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.

See Also

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