Chapin Davis Inc. Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Chapin Davis Inc. grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 56.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,884 shares of the medical research company’s stock after acquiring an additional 2,128 shares during the period. Chapin Davis Inc.’s holdings in Amgen were worth $1,833,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors grew 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 valued at $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. Norges Bank bought a new stake in Amgen during the 4th quarter valued at $1,541,991,000. GAMMA Investing LLC grew its holdings in Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares during the period. Capital International Investors grew its holdings in 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 acquiring an additional 3,495,503 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in 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 acquiring an additional 2,672,975 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Performance

AMGN opened at $289.33 on Monday. The stock has a market cap of $155.58 billion, a PE ratio of 26.40, a P/E/G ratio of 2.62 and a beta of 0.51. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock’s 50 day simple moving average is $281.82 and its 200-day simple moving average is $286.10.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion for 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%. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.96 earnings per share. Sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank Of Canada lowered their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target on the stock. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Cantor Fitzgerald initiated coverage on Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective for the company. Finally, Johnson Rice set a $294.00 price target on Amgen in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $309.22.

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 stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is owned by insiders.

Amgen 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.