9258 Wealth Management LLC Has $278,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

9258 Wealth Management LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 16.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 978 shares of the medical research company’s stock after selling 187 shares during the quarter. 9258 Wealth Management LLC’s holdings in Amgen were worth $278,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Tompkins Financial Corp lifted its position in shares of Amgen by 10.5% in the third quarter. Tompkins Financial Corp now owns 30,311 shares of the medical research company’s stock valued at $8,146,000 after buying an additional 2,889 shares during the last quarter. Comerica Bank increased its stake in Amgen by 410.3% during the 3rd quarter. Comerica Bank now owns 253,228 shares of the medical research company’s stock worth $68,058,000 after acquiring an additional 203,602 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in Amgen during the 3rd quarter worth $2,459,000. Verity Asset Management Inc. increased its stake in Amgen by 8.8% during the 3rd quarter. Verity Asset Management Inc. now owns 3,825 shares of the medical research company’s stock worth $1,028,000 after acquiring an additional 309 shares during the period. Finally, Graham Capital Management L.P. increased its stake in Amgen by 81.7% during the 3rd quarter. Graham Capital Management L.P. now owns 2,484 shares of the medical research company’s stock worth $668,000 after acquiring an additional 1,117 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

Amgen Trading Up 1.1 %

Shares of NASDAQ AMGN traded up $3.43 during trading on Thursday, reaching $325.10. The company had a trading volume of 1,545,171 shares, compared to its average volume of 2,715,651. The company’s fifty day moving average price is $307.86 and its 200-day moving average price is $294.15. Amgen Inc. has a 12 month low of $224.09 and a 12 month high of $329.72. The stock has a market cap of $174.39 billion, a P/E ratio of 46.38, a PEG ratio of 2.81 and a beta of 0.58. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

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

Analysts Set New Price Targets

AMGN has been the topic of a number of recent research reports. UBS Group raised their price objective on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Royal Bank of Canada boosted their price target on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Finally, BMO Capital Markets boosted their price target on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.00.

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.