Valeo Financial Advisors LLC Has $12.82 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Valeo Financial Advisors LLC trimmed its stake in Amgen Inc. (NASDAQ:AMGN) by 3.3% in the first quarter, HoldingsChannel.com reports. The firm owned 45,081 shares of the medical research company’s stock after selling 1,535 shares during the period. Valeo Financial Advisors LLC’s holdings in Amgen were worth $12,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tradewinds Capital Management LLC lifted its position in shares of Amgen by 39.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 211 shares of the medical research company’s stock worth $60,000 after purchasing an additional 60 shares during the period. Tower Wealth Partners Inc. acquired a new position in Amgen in the first quarter valued at $225,000. Plimoth Trust Co. LLC raised its position in shares of Amgen by 23.2% in the 1st quarter. Plimoth Trust Co. LLC now owns 4,878 shares of the medical research company’s stock worth $1,387,000 after acquiring an additional 919 shares in the last quarter. Silverlake Wealth Management LLC lifted its stake in Amgen by 0.8% in the first quarter. Silverlake Wealth Management LLC now owns 4,999 shares of the medical research company’s stock valued at $1,421,000 after buying an additional 39 shares during the period. Finally, Saxon Interests Inc. boosted its holdings in shares of Amgen by 14.6% during the 1st quarter. Saxon Interests Inc. now owns 1,893 shares of the medical research company’s stock worth $538,000 after buying an additional 241 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Mizuho lifted their price objective on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. TD Cowen dropped their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. UBS Group raised their target price on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley raised their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $307.35.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.69% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN traded down $1.39 during midday trading on Wednesday, reaching $309.38. The company’s stock had a trading volume of 995,630 shares, compared to its average volume of 2,759,288. The firm has a 50 day moving average price of $303.09 and a 200-day moving average price of $292.80. The stock has a market capitalization of $165.96 billion, a P/E ratio of 44.50, a PEG ratio of 2.82 and a beta of 0.58. Amgen Inc. has a 12-month low of $218.44 and a 12-month high of $329.72. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same period last year, the firm posted $3.98 EPS. As a group, equities analysts predict that Amgen Inc. will post 19.47 earnings per share for the current year.

Amgen 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.