Comprehensive Financial Consultants Institutional Inc. Sells 53 Shares of Amgen Inc. (NASDAQ:AMGN)

Comprehensive Financial Consultants Institutional Inc. lowered its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,729 shares of the medical research company’s stock after selling 53 shares during the period. Comprehensive Financial Consultants Institutional Inc.’s holdings in Amgen were worth $1,345,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BIP Wealth LLC grew its position in Amgen by 2.6% during the fourth quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock worth $360,000 after buying an additional 32 shares in the last quarter. Southland Equity Partners LLC grew its position in Amgen by 2.3% during the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock worth $443,000 after buying an additional 34 shares in the last quarter. Acropolis Investment Management LLC grew its position in Amgen by 3.5% during the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock worth $288,000 after buying an additional 34 shares in the last quarter. Opal Wealth Advisors LLC grew its position in Amgen by 1.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock worth $538,000 after buying an additional 34 shares in the last quarter. Finally, Marino Stram & Associates LLC grew its position in Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock worth $1,332,000 after buying an additional 34 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’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 transaction of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. TD Cowen cut their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Morgan Stanley upped their price objective on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. BMO Capital Markets upped their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Truist Financial reiterated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Finally, Royal Bank of Canada upped their price objective on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 14th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $307.35.

Amgen Stock Performance

Shares of AMGN stock traded up $4.45 on Tuesday, reaching $315.91. The stock had a trading volume of 1,852,532 shares, compared to its average volume of 2,728,681. The stock has a market cap of $169.46 billion, a P/E ratio of 45.13, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58. Amgen Inc. has a 1 year low of $218.61 and a 1 year high of $329.72. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The company has a 50 day simple moving average of $306.97 and a 200 day simple moving average of $293.95.

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

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.