Lipe & Dalton Trims Holdings in Amgen Inc. (NASDAQ:AMGN)

Lipe & Dalton lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,356 shares of the medical research company’s stock after selling 70 shares during the period. Amgen makes up approximately 1.4% of Lipe & Dalton’s investment portfolio, making the stock its 26th largest position. Lipe & Dalton’s holdings in Amgen were worth $2,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diversified Trust Co increased its stake in Amgen by 76.8% during the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after buying an additional 16,376 shares during the period. Provence Wealth Management Group boosted its holdings in Amgen by 11.9% in the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after purchasing an additional 154 shares during the period. Kinsale Capital Group Inc. grew its stake in Amgen by 33.0% during the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after purchasing an additional 2,814 shares in the last quarter. Global Wealth Management Investment Advisory Inc. increased its holdings in Amgen by 2.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after purchasing an additional 109 shares during the period. Finally, Traynor Capital Management Inc. raised its position in Amgen by 9.5% in the 4th quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock valued at $5,455,000 after purchasing an additional 1,650 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN traded up $5.74 on Friday, hitting $330.83. 2,191,328 shares of the company traded hands, compared to its average volume of 2,192,518. The company has a 50 day moving average of $309.18 and a 200-day moving average of $294.76. Amgen Inc. has a 12-month low of $224.34 and a 12-month high of $333.85. The stock has a market capitalization of $177.47 billion, a PE ratio of 47.26, a PEG ratio of 2.94 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 issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. During the same period in the previous year, the business posted $3.98 earnings per share. The business’s revenue was up 22.0% compared to the same quarter last year. Sell-side analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.69% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Argus raised their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Truist Financial reiterated a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. Finally, TD Cowen cut their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $312.63.

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.