Burleson & Company LLC Reduces Position in Amgen Inc. (NASDAQ:AMGN)

Burleson & Company LLC decreased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 81.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,242 shares of the medical research company’s stock after selling 14,130 shares during the quarter. Burleson & Company LLC’s holdings in Amgen were worth $807,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in Amgen by 2.0% in the first quarter. BlackRock Inc. now owns 48,772,074 shares of the medical research company’s stock valued at $12,134,979,000 after acquiring an additional 966,280 shares during the last quarter. Morgan Stanley boosted its holdings in Amgen by 13.8% in the fourth quarter. Morgan Stanley now owns 9,745,556 shares of the medical research company’s stock valued at $2,240,698,000 after acquiring an additional 1,179,665 shares during the last quarter. Norges Bank acquired a new position in Amgen in the fourth quarter valued at $1,302,778,000. Aristotle Capital Management LLC boosted its holdings in Amgen by 5.5% in the fourth quarter. Aristotle Capital Management LLC now owns 4,395,783 shares of the medical research company’s stock valued at $1,006,606,000 after acquiring an additional 227,873 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in Amgen by 2.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,418,659 shares of the medical research company’s stock valued at $786,018,000 after acquiring an additional 71,386 shares during the last quarter. Institutional investors and hedge funds own 75.31% of the company’s stock.

Several research analysts have commented on the company. Oppenheimer raised their price objective on Amgen from $272.00 to $277.00 and gave the company an “outperform” rating in a research report on Monday. SVB Leerink raised their price objective on Amgen from $230.00 to $238.00 and gave the company a “market perform” rating in a research report on Monday. Atlantic Securities reissued an “underweight” rating and issued a $200.00 price objective on shares of Amgen in a research report on Tuesday, May 4th. BMO Capital Markets lifted their target price on Amgen from $296.00 to $301.00 and gave the stock an “outperform” rating in a research report on Monday, May 31st. Finally, Barclays dropped their target price on Amgen from $242.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Friday, March 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $256.81.

In other Amgen news, SVP Nancy A. Grygiel sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $252.51, for a total value of $631,275.00. Following the completion of the sale, the senior vice president now directly owns 14,961 shares in the company, valued at $3,777,802.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Sanders Williams sold 250 shares of the company’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $251.78, for a total value of $62,945.00. Following the completion of the sale, the director now owns 4,409 shares of the company’s stock, valued at $1,110,098.02. The disclosure for this sale can be found here. Insiders sold 4,750 shares of company stock valued at $1,194,790 over the last 90 days. 0.36% of the stock is currently owned by insiders.

Shares of NASDAQ AMGN traded up $4.59 during midday trading on Thursday, hitting $244.11. 48,644 shares of the company’s stock were exchanged, compared to its average volume of 2,709,228. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.34 and a current ratio of 1.66. The business’s 50 day moving average is $247.33. The stock has a market cap of $140.25 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 1.73 and a beta of 0.72. Amgen Inc. has a twelve month low of $210.28 and a twelve month high of $276.69.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Monday, April 26th. The medical research company reported $3.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.05 by ($0.35). The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.30 billion. Amgen had a return on equity of 93.84% and a net margin of 28.16%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.17 earnings per share. As a group, equities research analysts predict that Amgen Inc. will post 16.35 earnings per share for the current fiscal year.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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