Exchange Capital Management Inc. Has $5.05 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Exchange Capital Management Inc. lowered its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.4% in the 1st quarter, HoldingsChannel reports. The firm owned 17,770 shares of the medical research company’s stock after selling 74 shares during the period. Exchange Capital Management Inc.’s holdings in Amgen were worth $5,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AMGN. Diversified Trust Co lifted its holdings in shares of Amgen by 76.8% in the fourth quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after purchasing an additional 16,376 shares in the last quarter. Provence Wealth Management Group lifted its holdings in 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 during the period. Kinsale Capital Group Inc. lifted its holdings in Amgen by 33.0% during the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after acquiring an additional 2,814 shares during the period. Global Wealth Management Investment Advisory Inc. grew its position in shares of Amgen by 2.4% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock valued at $1,363,000 after purchasing an additional 109 shares in the last quarter. Finally, Traynor Capital Management Inc. grew its position in shares of Amgen by 9.5% in the fourth quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock valued at $5,455,000 after purchasing an additional 1,650 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 0.3 %

NASDAQ:AMGN traded up $1.01 during mid-day trading on Tuesday, reaching $312.02. 628,705 shares of the company’s stock traded hands, compared to its average volume of 2,765,796. Amgen Inc. has a 12-month low of $218.44 and a 12-month high of $329.72. The firm has a market capitalization of $167.38 billion, a price-to-earnings ratio of 44.43, a PEG ratio of 2.82 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The company has a 50 day moving average price of $301.56 and a 200-day moving average price of $292.30.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMGN. Royal Bank of Canada lifted their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. Argus lifted their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Morgan Stanley lifted their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Finally, William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $307.35.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by company 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.