Jaffetilchin Investment Partners LLC Raises Stake in Amgen Inc. (NASDAQ:AMGN)

Jaffetilchin Investment Partners LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 35.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,357 shares of the medical research company's stock after purchasing an additional 1,397 shares during the period. Jaffetilchin Investment Partners LLC's holdings in Amgen were worth $1,669,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Diversified Trust Co grew its stake in Amgen by 4.8% in the 1st quarter. Diversified Trust Co now owns 38,635 shares of the medical research company's stock worth $12,037,000 after acquiring an additional 1,780 shares in the last quarter. Beacon Financial Advisory LLC boosted its holdings in shares of Amgen by 11.4% in the first quarter. Beacon Financial Advisory LLC now owns 861 shares of the medical research company's stock valued at $268,000 after purchasing an additional 88 shares during the period. PDS Planning Inc grew its stake in Amgen by 21.4% in the first quarter. PDS Planning Inc now owns 2,788 shares of the medical research company's stock worth $869,000 after purchasing an additional 492 shares in the last quarter. Bank of Stockton grew its stake in Amgen by 7.0% in the first quarter. Bank of Stockton now owns 1,139 shares of the medical research company's stock worth $355,000 after purchasing an additional 75 shares in the last quarter. Finally, DLK Investment Management LLC increased its holdings in Amgen by 7.3% during the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after purchasing an additional 1,387 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMGN. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Guggenheim began coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. Bank of America raised their target price on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Royal Bank Of Canada reduced their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $309.22.

Amgen Stock Down 0.4%

AMGN stock opened at $279.11 on Friday. The stock has a market capitalization of $150.08 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 2.54 and a beta of 0.51. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The firm has a 50 day moving average of $281.02 and a 200 day moving average of $286.01.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the previous year, the firm posted $3.96 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by insiders.

About Amgen

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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