Chesley Taft & Associates LLC Raises Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Chesley Taft & Associates LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGNFree Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,965 shares of the medical research company’s stock after buying an additional 586 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Amgen were worth $5,392,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BOK Financial Private Wealth Inc. purchased a new position in Amgen in the 4th quarter worth about $29,000. United Community Bank purchased a new position in Amgen in the 4th quarter worth about $29,000. Planned Solutions Inc. purchased a new position in Amgen in the 4th quarter worth about $30,000. Delos Wealth Advisors LLC raised its position in Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its position in Amgen by 56.9% in the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock worth $33,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

AMGN stock traded up $0.87 during midday trading on Thursday, hitting $313.69. The company’s stock had a trading volume of 2,081,437 shares, compared to its average volume of 2,785,389. Amgen Inc. has a 12 month low of $218.44 and a 12 month high of $329.72. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm has a market capitalization of $168.27 billion, a price-to-earnings ratio of 44.62, a price-to-earnings-growth ratio of 2.88 and a beta of 0.60. The company has a 50 day moving average of $299.67 and a two-hundred day moving average of $291.67.

Amgen (NASDAQ:AMGNGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the company posted $3.98 EPS. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, analysts expect that Amgen Inc. will post 19.47 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMGN. BMO Capital Markets upped their price target on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Mizuho upped their price target on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. Royal Bank of Canada upped their price target on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. UBS Group upped their price target on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $307.35.

Get Our Latest Research Report on Amgen

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was 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 directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

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 Beh├žet'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.

See Also

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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