Harrington Investments INC Has $3.23 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Harrington Investments INC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 1.1% during the 1st quarter, HoldingsChannel reports. The firm owned 10,359 shares of the medical research company’s stock after selling 117 shares during the quarter. Amgen makes up approximately 1.8% of Harrington Investments INC’s holdings, making the stock its 17th biggest holding. Harrington Investments INC’s holdings in Amgen were worth $3,227,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMGN. Centricity Wealth Management LLC bought a new stake in Amgen during the fourth quarter worth about $25,000. Pinney & Scofield Inc. acquired a new position in shares of Amgen in the 4th quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE grew its position in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in Amgen during the 4th quarter valued at $34,000. Finally, Atala Financial Inc acquired a new stake in Amgen during the 4th quarter valued at $34,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Up 1.1%

Shares of NASDAQ:AMGN opened at $290.33 on Friday. The company has a 50 day moving average price of $281.57 and a two-hundred day moving average price of $285.44. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market capitalization of $156.11 billion, a PE ratio of 38.45, a PEG ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 EPS. Analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Wall Street Zen upgraded shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Piper Sandler lowered their price objective 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. 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 note on Friday, May 2nd. Finally, Mizuho increased their price target on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $309.22.

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.