Howland Capital Management LLC Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Howland Capital Management LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 5.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,100 shares of the medical research company’s stock after selling 125 shares during the quarter. Howland Capital Management LLC’s holdings in Amgen were worth $597,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Amgen during the third quarter worth $2,459,000. Graham Capital Management L.P. lifted its position in shares of Amgen by 81.7% during the third quarter. Graham Capital Management L.P. now owns 2,484 shares of the medical research company’s stock worth $668,000 after purchasing an additional 1,117 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of Amgen by 12.0% during the third quarter. Public Sector Pension Investment Board now owns 57,297 shares of the medical research company’s stock worth $15,399,000 after purchasing an additional 6,132 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Amgen by 19.8% during the third quarter. EP Wealth Advisors LLC now owns 23,912 shares of the medical research company’s stock worth $6,427,000 after purchasing an additional 3,944 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new stake in shares of Amgen during the third quarter worth $466,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

Shares of Amgen stock opened at $327.86 on Friday. The business has a 50-day moving average of $308.79 and a 200 day moving average of $294.36. Amgen Inc. has a 12 month low of $224.34 and a 12 month high of $329.72. The stock has a market capitalization of $175.87 billion, a price-to-earnings ratio of 46.44, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last announced its 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 company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. During the same period last year, the business posted $3.98 EPS. Amgen’s revenue for the quarter was up 22.0% on a year-over-year basis. As a group, sell-side analysts forecast that Amgen Inc. will post 19.47 earnings per share for the current year.

Insider Buying and Selling at Amgen

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMGN shares. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Morgan Stanley decreased their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday. BMO Capital Markets lifted their price objective on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Truist Financial reiterated a “buy” rating and issued a $320.00 target price on shares of Amgen in a report on Friday, April 12th. Finally, Argus boosted their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $307.00.

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.