Price T Rowe Associates Inc. MD Sells 3,427,219 Shares of Amgen Inc. (NASDAQ:AMGN)

Price T Rowe Associates Inc. MD lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 52.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,137,491 shares of the medical research company’s stock after selling 3,427,219 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Amgen were worth $892,052,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Amgen by 6.2% in the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Capital International Investors grew its stake in shares of Amgen by 547.8% in the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after acquiring an additional 751,947 shares in the last quarter. Norges Bank bought a new stake in shares of Amgen in the 4th quarter worth $1,556,912,000. Finally, California Public Employees Retirement System grew its stake in shares of Amgen by 22.0% in the 4th quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock worth $782,288,000 after acquiring an additional 490,539 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

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

Analyst Ratings Changes

AMGN has been the subject of several analyst reports. BMO Capital Markets increased their price objective on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Truist Financial restated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a research note on Friday, April 12th. TD Cowen reduced their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Mizuho lifted their price objective on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.63.

Amgen Trading Up 0.2 %

Amgen stock traded up $0.55 during mid-day trading on Friday, hitting $334.85. The company’s stock had a trading volume of 1,515,471 shares, compared to its average volume of 1,821,447. The business has a 50 day moving average price of $313.96 and a 200-day moving average price of $297.29. Amgen Inc. has a 12 month low of $228.21 and a 12 month high of $346.85. The stock has a market cap of $179.62 billion, a price-to-earnings ratio of 47.84, a price-to-earnings-growth ratio of 2.78 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 issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.98 earnings per share. As a group, analysts forecast that Amgen Inc. will post 19.5 EPS for the current year.

Amgen Company 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.