RFG Advisory LLC Sells 417 Shares of Amgen Inc. (NASDAQ:AMGN)

RFG Advisory LLC trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,771 shares of the medical research company’s stock after selling 417 shares during the period. RFG Advisory LLC’s holdings in Amgen were worth $3,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen during the 4th quarter valued at approximately $29,000. United Community Bank purchased a new stake in Amgen in the fourth quarter worth $29,000. Providence Capital Advisors LLC bought a new stake in shares of Amgen in the third quarter valued at $30,000. Planned Solutions Inc. purchased a new position in shares of Amgen during the 4th quarter valued at $30,000. Finally, Delos Wealth Advisors LLC lifted its position in shares of Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

NASDAQ AMGN opened at $308.16 on Friday. Amgen Inc. has a 52-week low of $218.44 and a 52-week high of $329.72. The company has a fifty day moving average of $296.57 and a 200-day moving average of $290.69. The company has a market capitalization of $165.31 billion, a P/E ratio of 44.02, a P/E/G ratio of 2.80 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 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 company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter last year, the company earned $3.98 EPS. The firm’s revenue was up 22.0% compared to the same quarter last year. As a group, equities research analysts predict that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMGN. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Truist Financial restated a “buy” rating and set a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Royal Bank of Canada increased their target price on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Finally, UBS Group lifted their price target on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Amgen has a consensus rating of “Moderate Buy” and an average price target of $305.85.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the 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 sale, 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 legal filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

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.