Cohen Investment Advisors LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 2,700.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 267,381 shares of the medical research company's stock after purchasing an additional 257,832 shares during the period. Amgen comprises 2.2% of Cohen Investment Advisors LLC's holdings, making the stock its 15th largest position. Cohen Investment Advisors LLC's holdings in Amgen were worth $83,303,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. 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 position in Amgen in the 4th quarter valued at $1,541,991,000. GAMMA Investing LLC boosted 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 purchasing an additional 3,653,205 shares during the last quarter. Capital International Investors grew 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 buying an additional 3,495,503 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 buying an additional 2,672,975 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.
Insider Buying and Selling
In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm'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 completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is currently owned by insiders.
Amgen Stock Performance
NASDAQ:AMGN traded up $6.33 during mid-day trading on Wednesday, reaching $296.85. 2,272,428 shares of the stock were exchanged, compared to its average volume of 2,835,534. The stock has a market capitalization of $159.62 billion, a P/E ratio of 27.08, a P/E/G ratio of 2.53 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 company has a 50 day simple moving average of $281.37 and a 200-day simple moving average of $286.28. 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 (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter in the previous year, the firm posted $3.96 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently issued reports on AMGN. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Bank of America upped their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. William Blair reiterated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Finally, Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $307.82.
Get Our Latest Stock Analysis on Amgen
About Amgen
(
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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