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

Chapin Davis Inc. grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 12.6% during the first quarter, HoldingsChannel reports. The firm owned 3,331 shares of the medical research company’s stock after acquiring an additional 372 shares during the period. Chapin Davis Inc.’s holdings in Amgen were worth $947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Diversified Trust Co increased its holdings in Amgen by 76.8% during the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after acquiring an additional 16,376 shares in the last quarter. Provence Wealth Management Group raised its holdings in shares of Amgen by 11.9% during the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock worth $416,000 after acquiring an additional 154 shares in the last quarter. Kinsale Capital Group Inc. lifted its stake in shares of Amgen by 33.0% in the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after buying an additional 2,814 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in Amgen by 2.4% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after buying an additional 109 shares in the last quarter. Finally, Traynor Capital Management Inc. grew its position in Amgen by 9.5% during the 4th quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock worth $5,455,000 after acquiring an additional 1,650 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on AMGN shares. Raymond James began coverage on shares of Amgen in a research note on Thursday, March 28th. They set a “market perform” rating on the stock. UBS Group boosted their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Royal Bank of Canada boosted their price objective on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Finally, Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Amgen currently has an average rating of “Moderate Buy” and an average price target of $307.35.

Amgen Stock Performance

Shares of AMGN traded up $5.26 during mid-day trading on Monday, hitting $317.71. 95,777 shares of the company’s stock were exchanged, compared to its average volume of 2,769,741. The business’s 50 day moving average is $301.56 and its two-hundred day moving average is $292.30. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The firm has a market capitalization of $170.43 billion, a P/E ratio of 44.64, a P/E/G ratio of 2.82 and a beta of 0.58. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week high of $329.72.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The firm had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.98 earnings per share. On average, equities analysts expect that Amgen Inc. will post 19.47 earnings per share for the current year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

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.