Cohen Investment Advisors LLC Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Cohen Investment Advisors LLC boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,867 shares of the medical research company's stock after buying an additional 1,318 shares during the period. Amgen makes up approximately 2.0% of Cohen Investment Advisors LLC's holdings, making the stock its 24th largest holding. Cohen Investment Advisors LLC's holdings in Amgen were worth $3,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter valued at $26,000. First Pacific Financial grew its position in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after acquiring an additional 67 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE grew its position in Amgen by 66.2% in 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 position in Amgen in the 4th quarter valued at $34,000. Finally, Atala Financial Inc bought a new position in Amgen in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AMGN shares. Royal Bank Of Canada cut their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. William Blair reissued an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Mizuho increased their price target on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has a consensus rating of "Hold" and an average price target of $307.82.

Amgen Trading Up 0.5%

Shares of NASDAQ AMGN opened at $298.25 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The stock has a market capitalization of $160.37 billion, a P/E ratio of 27.21, a price-to-earnings-growth ratio of 2.68 and a beta of 0.49. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The business has a fifty day moving average price of $282.12 and a 200 day moving average price of $286.57.

Amgen (NASDAQ:AMGN - Get Free Report) last issued 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 firm 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 quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.96 EPS. Equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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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