First National Trust Co. Sells 959 Shares of Amgen Inc. (AMGN)
First National Trust Co. cut its position in Amgen Inc. (NASDAQ:AMGN) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 34,006 shares of the medical research company’s stock after selling 959 shares during the period. First National Trust Co.’s holdings in Amgen were worth $5,174,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of AMGN. Bank of Montreal Can acquired a new stake in shares of Amgen during the second quarter worth about $383,036,000. Wellington Management Group LLP raised its stake in shares of Amgen by 16.0% in the first quarter. Wellington Management Group LLP now owns 13,544,922 shares of the medical research company’s stock worth $2,030,789,000 after buying an additional 1,864,688 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Amgen by 37.1% in the second quarter. Nordea Investment Management AB now owns 5,719,168 shares of the medical research company’s stock worth $870,171,000 after buying an additional 1,547,099 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in shares of Amgen during the first quarter worth about $113,507,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Amgen by 12.4% in the first quarter. UBS Asset Management Americas Inc. now owns 3,712,647 shares of the medical research company’s stock worth $556,636,000 after buying an additional 409,863 shares during the last quarter. 79.15% of the stock is currently owned by hedge funds and other institutional investors.
Amgen Inc. (NASDAQ:AMGN) traded down 0.28% during mid-day trading on Wednesday, hitting $163.86. The stock had a trading volume of 1,941,995 shares. The stock has a 50 day moving average of $170.32 and a 200-day moving average of $162.15. Amgen Inc. has a 1-year low of $139.02 and a 1-year high of $176.85. The firm has a market cap of $122.63 billion, a P/E ratio of 16.77 and a beta of 0.94.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, July 27th. The medical research company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.74 by $0.10. The firm earned $5.69 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Amgen had a return on equity of 29.30% and a net margin of 33.07%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.57 EPS. Analysts predict that Amgen Inc. will post $11.35 EPS for the current fiscal year.
A number of analysts have issued reports on AMGN shares. Vetr lowered Amgen from a “hold” rating to a “sell” rating and set a $166.35 price target on the stock. in a research note on Monday, August 1st. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $204.00 price objective on shares of Amgen in a research note on Thursday, September 8th. Cowen and Company reaffirmed a “buy” rating on shares of Amgen in a research note on Monday, September 19th. Jefferies Group reaffirmed a “buy” rating and issued a $187.00 price objective on shares of Amgen in a research note on Wednesday, July 13th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $193.00 price objective on shares of Amgen in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Amgen currently has a consensus rating of “Buy” and a consensus price target of $184.94.
In other news, VP Annette Louise Such sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $174.59, for a total value of $523,770.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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