M&G Investment Management Ltd. Decreases Stake in Amgen Inc. (NASDAQ:AMGN)

M&G Investment Management Ltd. cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,215 shares of the medical research company’s stock after selling 4,590 shares during the period. M&G Investment Management Ltd.’s holdings in Amgen were worth $7,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Moody Lynn & Lieberson LLC grew its position in shares of Amgen by 2.6% in the first quarter. Moody Lynn & Lieberson LLC now owns 1,565 shares of the medical research company’s stock valued at $389,000 after purchasing an additional 40 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its position in shares of Amgen by 0.8% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 4,986 shares of the medical research company’s stock valued at $1,241,000 after purchasing an additional 40 shares during the last quarter. Lederer & Associates Investment Counsel CA grew its position in shares of Amgen by 0.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 10,280 shares of the medical research company’s stock valued at $2,558,000 after purchasing an additional 41 shares during the last quarter. Colonial Trust Advisors grew its position in shares of Amgen by 2.0% in the first quarter. Colonial Trust Advisors now owns 2,091 shares of the medical research company’s stock valued at $520,000 after purchasing an additional 41 shares during the last quarter. Finally, First Mercantile Trust Co. grew its position in shares of Amgen by 2.9% in the fourth quarter. First Mercantile Trust Co. now owns 1,578 shares of the medical research company’s stock valued at $363,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 75.31% of the company’s stock.

In other Amgen news, Director R Sanders Williams sold 250 shares of the firm’s stock in a transaction on Friday, May 7th. The shares were sold at an average price of $251.78, for a total transaction of $62,945.00. Following the completion of the transaction, the director now directly owns 4,409 shares of the company’s stock, valued at approximately $1,110,098.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald D. Sugar sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 12th. The stock was sold at an average price of $250.59, for a total transaction of $250,590.00. Following the transaction, the director now directly owns 16,927 shares of the company’s stock, valued at $4,241,736.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,750 shares of company stock valued at $1,194,790. 0.36% of the stock is owned by company insiders.

Amgen stock opened at $244.64 on Friday. Amgen Inc. has a 12-month low of $210.28 and a 12-month high of $276.69. The stock has a market cap of $140.56 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 1.73 and a beta of 0.72. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.66 and a quick ratio of 1.34. The business’s fifty day moving average price is $247.24.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Monday, April 26th. The medical research company reported $3.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.05 by ($0.35). The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.30 billion. Amgen had a return on equity of 93.84% and a net margin of 28.16%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $4.17 EPS. As a group, sell-side analysts predict that Amgen Inc. will post 16.35 earnings per share for the current year.

Several research firms have recently commented on AMGN. Morgan Stanley lowered their price target on shares of Amgen from $281.00 to $278.00 and set an “overweight” rating on the stock in a research report on Monday, April 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $290.00 price target on shares of Amgen in a report on Wednesday, April 28th. Evercore ISI reiterated a “buy” rating on shares of Amgen in a report on Thursday, April 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $215.00 price target on shares of Amgen in a report on Wednesday, April 28th. Finally, Royal Bank of Canada decreased their price target on shares of Amgen from $220.00 to $217.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. Amgen has an average rating of “Hold” and a consensus price target of $256.81.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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