Sky Investment Group LLC Lowers Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Sky Investment Group LLC cut its stake in shares of Amgen Inc. (NASDAQ:AMGNGet Rating) by 32.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,143 shares of the medical research company’s stock after selling 1,015 shares during the quarter. Sky Investment Group LLC’s holdings in Amgen were worth $518,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pacifica Partners Inc. increased its holdings in Amgen by 7.1% in the first quarter. Pacifica Partners Inc. now owns 601 shares of the medical research company’s stock worth $137,000 after buying an additional 40 shares during the last quarter. Gryphon Financial Partners LLC increased its stake in shares of Amgen by 4.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,040 shares of the medical research company’s stock worth $234,000 after purchasing an additional 44 shares during the last quarter. Formidable Asset Management LLC raised its holdings in shares of Amgen by 1.9% during the 4th quarter. Formidable Asset Management LLC now owns 2,376 shares of the medical research company’s stock valued at $541,000 after purchasing an additional 45 shares in the last quarter. Sierra Capital LLC lifted its stake in shares of Amgen by 7.1% in the 4th quarter. Sierra Capital LLC now owns 678 shares of the medical research company’s stock valued at $153,000 after purchasing an additional 45 shares during the last quarter. Finally, Samalin Investment Counsel LLC boosted its holdings in Amgen by 5.2% in the fourth quarter. Samalin Investment Counsel LLC now owns 932 shares of the medical research company’s stock worth $210,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 79.01% of the company’s stock.

In related news, EVP Jonathan P. Graham sold 13,500 shares of the stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $241.81, for a total transaction of $3,264,435.00. Following the completion of the transaction, the executive vice president now directly owns 37,333 shares in the company, valued at $9,027,492.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director R Sanders Williams sold 600 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $250.00, for a total value of $150,000.00. Following the completion of the sale, the director now owns 5,501 shares in the company, valued at approximately $1,375,250. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.

NASDAQ:AMGN traded up $1.13 on Thursday, hitting $241.27. 85,084 shares of the stock were exchanged, compared to its average volume of 3,428,608. The company has a debt-to-equity ratio of 39.31, a quick ratio of 1.09 and a current ratio of 1.44. Amgen Inc. has a 52 week low of $198.64 and a 52 week high of $258.45. The stock has a market capitalization of $128.89 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 2.05 and a beta of 0.57. The company’s 50-day moving average price is $244.62 and its 200 day moving average price is $234.69.

Amgen (NASDAQ:AMGNGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The medical research company reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.22 by $0.03. Amgen had a net margin of 21.75% and a return on equity of 165.95%. The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the firm posted $3.70 earnings per share. As a group, equities research analysts predict that Amgen Inc. will post 17.44 earnings per share for the current year.

AMGN has been the subject of a number of analyst reports. TheStreet cut Amgen from a “b+” rating to a “c+” rating in a research report on Wednesday, April 27th. Mizuho increased their target price on shares of Amgen from $202.00 to $208.00 in a research note on Tuesday, May 10th. BMO Capital Markets lowered their price target on shares of Amgen from $263.00 to $243.00 in a report on Thursday, April 28th. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Monday, May 16th. Finally, Piper Sandler lifted their price target on shares of Amgen from $255.00 to $260.00 in a report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $242.57.

Amgen Profile (Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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