Factory Mutual Insurance Co. Reduces Position in Amgen Inc. (NASDAQ:AMGN)

Factory Mutual Insurance Co. decreased its position in Amgen Inc. (NASDAQ:AMGNFree Report) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,500 shares of the medical research company’s stock after selling 2,900 shares during the period. Factory Mutual Insurance Co.’s holdings in Amgen were worth $23,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. boosted its holdings in Amgen by 1.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock valued at $3,133,000 after purchasing an additional 193 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Amgen by 76.8% in the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after buying an additional 16,376 shares during the last quarter. Provence Wealth Management Group boosted its stake in shares of Amgen by 11.9% in the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock worth $416,000 after buying an additional 154 shares during the last quarter. Kinsale Capital Group Inc. grew its holdings in Amgen by 33.0% during the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after acquiring an additional 2,814 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. raised its position in Amgen by 2.4% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock valued at $1,363,000 after acquiring an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMGN. Morgan Stanley raised their price objective on shares of Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. UBS Group lifted their price target on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, BMO Capital Markets increased their price target on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and an average target price of $305.85.

Get Our Latest Report on AMGN

Insider Buying and Selling

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.69% of the stock is owned by company insiders.

Amgen Price Performance

Shares of Amgen stock traded up $1.36 on Tuesday, hitting $319.51. 1,578,707 shares of the company were exchanged, compared to its average volume of 2,775,805. Amgen Inc. has a 1-year low of $218.44 and a 1-year high of $329.72. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The stock has a market capitalization of $171.39 billion, a price-to-earnings ratio of 46.37, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a 50-day moving average price of $297.62 and a 200 day moving average price of $291.17.

Amgen (NASDAQ:AMGNGet Free Report) last issued 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. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. During the same period in the prior year, the business earned $3.98 EPS. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. As a group, sell-side analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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