Channel Wealth LLC Cuts Stock Position in Amgen Inc. (NASDAQ:AMGN)
Channel Wealth LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 64.8% in Q1, now holding 2,090 shares valued at $651,000. Other institutional investors, including Capital World Investors and GAMMA Investing LLC, significantly increased their positions in Amgen. The stock opened at $287.01, with a market cap of $154.33 billion. Amgen reported a Q1 EPS of $4.90, exceeding estimates, and a revenue of $8.15 billion, up 9.4% year-over-year. Analysts have mixed ratings on the stock, with an average rating of "Hold" and a consensus price target of $309.22.
Channel Wealth LLC cut its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 64.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,090 shares of the medical research company's stock after selling 3,851 shares during the quarter. Channel Wealth LLC's holdings in Amgen were worth $651,000 as of its most recent SEC filing.
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A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital World Investors increased its stake in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after buying an additional 6,029,058 shares in the last quarter. Norges Bank purchased a new stake in Amgen during the 4th quarter worth approximately $1,541,991,000. GAMMA Investing LLC increased its stake in Amgen by 43,573.5% during the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock worth $1,140,768,000 after buying an additional 3,653,205 shares in the last quarter. Capital International Investors increased its stake in Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after buying an additional 3,495,503 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.
Amgen Stock Performance
NASDAQ:AMGN opened at $287.01 on Thursday. The firm has a market capitalization of $154.33 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The business's fifty day moving average price is $282.39 and its 200 day moving average price is $285.31. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.
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Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.96 earnings per share. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Guggenheim assumed coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Wells Fargo & Company restated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Citigroup restated a "neutral" rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Bank of America upped their price objective on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Amgen currently has an average rating of "Hold" and a consensus price target of $309.22.
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Check Out Our Latest Analysis on Amgen
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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