Sawgrass Asset Management LLC Has $6.53 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Sawgrass Asset Management LLC lessened its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,947 shares of the medical research company’s stock after selling 949 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Amgen were worth $6,526,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AMGN. Capital World Investors raised its holdings in shares of Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after acquiring an additional 6,029,058 shares during the period. Norges Bank acquired a new stake in shares of Amgen during the fourth quarter worth $1,541,991,000. GAMMA Investing LLC raised its holdings in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the period. Capital International Investors raised its holdings in shares of Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after acquiring an additional 3,495,503 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Amgen by 25.4% during the fourth 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 acquiring an additional 2,672,975 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Down 0.1%

Amgen stock opened at $289.33 on Monday. The stock has a market cap of $155.58 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.62 and a beta of 0.51. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company’s 50-day moving average price is $281.82 and its two-hundred day moving average price is $286.10.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share 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 analysts’ expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.96 EPS. As a group, analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Johnson Rice set a $294.00 price objective on shares of Amgen in a report on Wednesday, March 5th. Bank of America raised their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Mizuho lifted their price target on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. UBS Group reissued a “neutral” rating and set a $315.00 price target (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Finally, Erste Group Bank cut shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and a consensus price target of $309.22.

Insiders Place Their Bets

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 directly 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 filing with the SEC, which is accessible through this link. Company insiders own 0.69% of the company’s stock.

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.