SageView Advisory Group LLC Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

SageView Advisory Group LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 7.3% during the first quarter, Holdings Channel.com reports. The fund owned 8,951 shares of the medical research company’s stock after selling 701 shares during the period. SageView Advisory Group LLC’s holdings in Amgen were worth $2,545,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AMGN. Wellington Management Group LLP boosted its position in Amgen by 25.8% in the third quarter. Wellington Management Group LLP now owns 135,854 shares of the medical research company’s stock valued at $36,512,000 after buying an additional 27,874 shares during the last quarter. Capital Asset Advisory Services LLC purchased a new stake in Amgen in the fourth quarter valued at approximately $427,000. Dfpg Investments LLC boosted its position in Amgen by 68.5% in the fourth quarter. Dfpg Investments LLC now owns 10,859 shares of the medical research company’s stock valued at $3,265,000 after buying an additional 4,415 shares during the last quarter. Sound Income Strategies LLC boosted its position in Amgen by 85.5% in the fourth quarter. Sound Income Strategies LLC now owns 920 shares of the medical research company’s stock valued at $265,000 after buying an additional 424 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Amgen in the fourth quarter valued at approximately $213,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN traded down $4.70 during mid-day trading on Thursday, hitting $330.97. The stock had a trading volume of 2,227,435 shares, compared to its average volume of 2,694,121. The firm’s 50 day moving average is $311.02 and its 200 day moving average is $295.71. Amgen Inc. has a twelve month low of $228.21 and a twelve month high of $338.98. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The stock has a market capitalization of $177.54 billion, a price-to-earnings ratio of 47.44, a PEG ratio of 3.01 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating 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 firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the company earned $3.98 EPS. The firm’s revenue was up 22.0% compared to the same quarter last year. Equities research analysts forecast that Amgen Inc. will post 19.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AMGN shares. Morgan Stanley decreased their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada boosted their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 14th. TD Cowen decreased their price target on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $312.63.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.69% of the stock is owned by company insiders.

About Amgen

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.