FTB Advisors Inc. Has $6 Million Stake in Amgen, Inc. (NASDAQ:AMGN)

FTB Advisors Inc. cut its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,591 shares of the medical research company’s stock after selling 622 shares during the period. FTB Advisors Inc.’s holdings in Amgen were worth $6,002,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Ruggie Capital Group lifted its holdings in Amgen by 297.1% in the fourth quarter. Ruggie Capital Group now owns 135 shares of the medical research company’s stock worth $26,000 after acquiring an additional 101 shares during the last quarter. Capital Financial Planning LLC bought a new position in Amgen in the fourth quarter worth about $27,000. Massey Quick Simon & CO. LLC lifted its holdings in Amgen by 710.5% in the fourth quarter. Massey Quick Simon & CO. LLC now owns 154 shares of the medical research company’s stock worth $30,000 after acquiring an additional 135 shares during the last quarter. Next Capital Management LLC bought a new position in Amgen in the fourth quarter worth about $33,000. Finally, Essex Investment Management Co. LLC bought a new position in Amgen in the fourth quarter worth about $39,000. Institutional investors own 77.23% of the company’s stock.

Amgen stock traded up $0.26 during midday trading on Friday, reaching $184.28. The stock had a trading volume of 3,753,084 shares, compared to its average volume of 2,825,205. The firm has a fifty day moving average of $174.89. The firm has a market cap of $112.40 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 2.24 and a beta of 1.14. Amgen, Inc. has a twelve month low of $166.30 and a twelve month high of $210.19. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.53 and a current ratio of 2.77.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, April 30th. The medical research company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.11. The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.55 billion. Amgen had a net margin of 34.00% and a return on equity of 71.02%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the business posted $3.47 EPS. As a group, research analysts predict that Amgen, Inc. will post 13.91 EPS for the current fiscal year.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $193.18, for a total transaction of $386,360.00. Following the completion of the sale, the director now owns 15,092 shares of the company’s stock, valued at approximately $2,915,472.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 6,000 shares of company stock valued at $1,089,180 in the last three months. Company insiders own 0.25% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Mizuho reaffirmed a “buy” rating and set a $208.00 price target on shares of Amgen in a report on Monday, June 24th. Royal Bank of Canada reaffirmed a “neutral” rating and set a $192.00 price target on shares of Amgen in a report on Tuesday, May 21st. Oppenheimer set a $210.00 price target on Amgen and gave the company a “buy” rating in a report on Friday, May 24th. Finally, Credit Suisse Group started coverage on Amgen in a report on Monday, May 20th. They set an “outperform” rating and a $208.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $208.35.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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