First National Trust Co Has $16.41 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

First National Trust Co decreased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,671 shares of the medical research company’s stock after selling 4,395 shares during the quarter. First National Trust Co’s holdings in Amgen were worth $16,410,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMGN. Pinney & Scofield Inc. bought a new position in shares of Amgen in the fourth quarter worth about $26,000. First Pacific Financial lifted its stake in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its stake 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 valued at $33,000 after purchasing an additional 51 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Amgen in the fourth quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC grew its stake in shares of Amgen by 46.9% during the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company’s stock worth $37,000 after buying an additional 45 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

Shares of Amgen stock opened at $303.56 on Wednesday. The business has a 50-day simple moving average of $290.47 and a 200 day simple moving average of $291.42. Amgen Inc. has a one year low of $253.30 and a one year high of $340.89. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The firm has a market capitalization of $163.23 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.61 and a beta of 0.49.

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

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of research reports. Mizuho increased their price target on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $305.00 price target on shares of Amgen in a research note on Tuesday, June 24th. Piper Sandler restated an “overweight” rating and set a $328.00 price target on shares of Amgen in a report on Friday, June 27th. Royal Bank Of Canada cut their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $307.27.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.69% of the stock is owned by corporate insiders.

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.