Amgen Inc. (NASDAQ:AMGN) Shares Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC lessened its position in shares of Amgen Inc. (NASDAQ:AMGN) by 20.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,771 shares of the medical research company’s stock after selling 734 shares during the period. Teamwork Financial Advisors LLC’s holdings in Amgen were worth $788,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its holdings in Amgen by 114.5% in the third quarter. Lazard Asset Management LLC now owns 36,595 shares of the medical research company’s stock valued at $9,833,000 after purchasing an additional 19,532 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Amgen by 4.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,127,468 shares of the medical research company’s stock valued at $574,427,000 after buying an additional 81,655 shares during the last quarter. Evergreen Capital Management LLC grew its position in shares of Amgen by 19.1% during the third quarter. Evergreen Capital Management LLC now owns 6,998 shares of the medical research company’s stock worth $1,881,000 after buying an additional 1,123 shares in the last quarter. Ellerson Group Inc. ADV increased its stake in shares of Amgen by 8.4% in the third quarter. Ellerson Group Inc. ADV now owns 11,195 shares of the medical research company’s stock worth $3,009,000 after buying an additional 870 shares during the last quarter. Finally, EHP Funds Inc. acquired a new stake in Amgen in the third quarter valued at $269,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Price Performance

AMGN stock traded down $1.39 during trading on Thursday, hitting $309.38. 1,000,711 shares of the stock traded hands, compared to its average volume of 2,340,821. The stock has a market cap of $165.96 billion, a price-to-earnings ratio of 44.20, a P/E/G ratio of 2.81 and a beta of 0.58. Amgen Inc. has a one year low of $218.44 and a one year high of $329.72. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The company has a 50 day simple moving average of $303.81 and a 200 day simple moving average of $292.91.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company’s revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the business posted $3.98 earnings per share. Equities analysts expect that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AMGN shares. BMO Capital Markets boosted their target price on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. TD Cowen lowered their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Mizuho upped their price objective on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Morgan Stanley lifted their target price on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, Argus upped their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $307.35.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company’s stock.

Amgen Profile

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.