Chapin Davis Inc. Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Chapin Davis Inc. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 56.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,884 shares of the medical research company's stock after buying an additional 2,128 shares during the quarter. Chapin Davis Inc.'s holdings in Amgen were worth $1,833,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new position in shares of Amgen in the 4th quarter valued at $270,000. Brighton Jones LLC lifted its stake in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Amgen in the 4th quarter valued at $25,000. Redmond Asset Management LLC acquired a new position in shares of Amgen in the 4th quarter valued at $581,000. Finally, Fisher Funds Management LTD acquired a new position in shares of Amgen in the 4th quarter valued at $8,645,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Down 0.1%

NASDAQ:AMGN opened at $289.33 on Monday. The stock's 50 day moving average price is $281.82 and its 200 day moving average price is $286.10. The company has a market capitalization of $155.58 billion, a PE 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 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $3.96 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction 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 sale, the senior vice president now directly owns 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on AMGN shares. Piper Sandler dropped their target price on Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Mizuho lifted their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Johnson Rice set a $294.00 price target on Amgen in a research report on Wednesday, March 5th. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Bank of America increased their price target on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $309.22.

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.

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