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

RMB Capital Management LLC reduced its holdings in shares of Amgen Inc. (NASDAQ:AMGNFree Report) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,695 shares of the medical research company’s stock after selling 2,963 shares during the quarter. RMB Capital Management LLC’s holdings in Amgen were worth $15,753,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen during the 4th quarter worth $29,000. United Community Bank purchased a new position in shares of Amgen in the fourth quarter worth about $29,000. Providence Capital Advisors LLC bought a new stake in shares of Amgen in the third quarter valued at approximately $30,000. Planned Solutions Inc. purchased a new stake in shares of Amgen during the 4th quarter valued at approximately $30,000. Finally, Delos Wealth Advisors LLC boosted its holdings in Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 1.2 %

Amgen stock traded down $3.77 during mid-day trading on Tuesday, hitting $300.95. The company’s stock had a trading volume of 1,157,110 shares, compared to its average volume of 2,779,167. The business has a 50 day moving average price of $290.56 and a 200-day moving average price of $288.61. 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 Inc. has a 12 month low of $215.32 and a 12 month high of $329.72. The stock has a market cap of $161.44 billion, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 2.76 and a beta of 0.60.

Amgen (NASDAQ:AMGNGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. During the same period last year, the company earned $3.98 EPS. Amgen’s revenue for the quarter was up 22.0% compared to the same quarter last year. As a group, analysts forecast that Amgen Inc. will post 19.47 EPS for the current year.

Insider Activity at Amgen

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

Analysts Set New Price Targets

AMGN has been the topic of several recent research reports. Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Morgan Stanley raised their target price on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada cut their price objective on shares of Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $305.65.

Read Our Latest Stock Analysis on Amgen

Amgen Profile

(Free Report)

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 Beh├žet'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.

Further Reading

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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