MainStreet Investment Advisors LLC Sells 339 Shares of Amgen Inc. (NASDAQ:AMGN)

MainStreet Investment Advisors LLC lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 17.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,589 shares of the medical research company’s stock after selling 339 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Amgen were worth $495,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. KPP Advisory Services LLC boosted its stake in shares of Amgen by 87.1% in the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after purchasing an additional 2,716 shares during the last quarter. Advisor Resource Council acquired a new stake in shares of Amgen in the 1st quarter valued at approximately $1,331,000. DLK Investment Management LLC raised its position in shares of Amgen by 7.3% in the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after acquiring an additional 1,387 shares during the period. Aire Advisors LLC raised its position in shares of Amgen by 26.3% in the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock valued at $3,461,000 after acquiring an additional 2,762 shares during the period. Finally, Mariner LLC raised its position in shares of Amgen by 2.2% in the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company’s stock valued at $238,316,000 after acquiring an additional 19,250 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.2%

Shares of NASDAQ AMGN opened at $296.52 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The company has a market cap of $159.44 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.69 and a beta of 0.49. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a 50-day moving average price of $282.95 and a two-hundred day moving average price of $287.50.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the business posted $3.96 EPS. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $328.00 price target on shares of Amgen in a research report on Friday, June 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. William Blair reiterated an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price on the stock. Two equities 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $307.82.

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.