Oak Hill Wealth Advisors LLC Sells 202 Shares of Amgen Inc. (NASDAQ:AMGN)

Oak Hill Wealth Advisors LLC reduced its position in Amgen Inc. (NASDAQ:AMGN) by 7.7% in the first quarter, HoldingsChannel.com reports. The firm owned 2,410 shares of the medical research company’s stock after selling 202 shares during the period. Oak Hill Wealth Advisors LLC’s holdings in Amgen were worth $751,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. First Pacific Financial boosted its holdings in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after buying an additional 67 shares during the period. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares during the period. Synergy Investment Management LLC bought a new position in Amgen in the 4th quarter worth $34,000. Finally, Atala Financial Inc bought a new position in shares of Amgen during the fourth quarter worth $34,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.0%

AMGN stock opened at $280.35 on Thursday. The company has a market capitalization of $150.75 billion, a PE ratio of 25.58, a P/E/G ratio of 2.51 and a beta of 0.51. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm’s 50-day moving average is $280.99 and its 200 day moving average is $286.00. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.96 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Bank of America upped their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Mizuho upped their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Royal Bank Of Canada dropped their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Piper Sandler dropped their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $309.22.

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.