Sanibel Captiva Trust Company Inc. Lowers Holdings in Amgen Inc. (NASDAQ:AMGN)

Sanibel Captiva Trust Company Inc. trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 77,769 shares of the medical research company’s stock after selling 3,123 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Amgen were worth $24,229,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC purchased a new stake in shares of Amgen during the fourth quarter valued at $25,000. Pinney & Scofield Inc. bought a new position in Amgen during the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE boosted its holdings in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new stake in shares of Amgen in the fourth quarter worth approximately $34,000. Finally, Atala Financial Inc purchased a new position in shares of Amgen during the fourth quarter valued at approximately $34,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Down 0.1%

Shares of NASDAQ AMGN opened at $289.98 on Tuesday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market cap of $155.92 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 2.63 and a beta of 0.51. The business’s 50 day moving average price is $281.26 and its 200-day moving average price is $285.36.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the firm posted $3.96 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AMGN shares. Johnson Rice set a $294.00 target price on shares of Amgen in a report on Wednesday, March 5th. Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Bank of America lifted their price objective on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. UBS Group reissued a “neutral” rating and issued a $315.00 target price (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and an average target price of $309.22.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president now owns 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is currently owned by insiders.

Amgen Company 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.