Cohen Investment Advisors LLC Has $2.79 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Cohen Investment Advisors LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 4.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 9,795 shares of the medical research company’s stock after purchasing an additional 382 shares during the quarter. Amgen makes up approximately 1.8% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Cohen Investment Advisors LLC’s holdings in Amgen were worth $2,785,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Amgen by 0.3% in the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after buying an additional 165,636 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Amgen by 3.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock worth $1,890,769,000 after acquiring an additional 243,720 shares in the last quarter. Royal Bank of Canada boosted its stake in Amgen by 14.8% during the fourth quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after acquiring an additional 751,947 shares in the last quarter. Norges Bank acquired a new stake in Amgen in the fourth quarter worth $1,556,912,000. Finally, California Public Employees Retirement System increased its stake in Amgen by 22.0% in the fourth quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock valued at $782,288,000 after purchasing an additional 490,539 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Argus boosted their price target on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $307.35.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is owned by corporate insiders.

Amgen Stock Performance

AMGN stock traded down $1.39 during mid-day trading on Thursday, hitting $309.38. The company had a trading volume of 1,000,711 shares, compared to its average volume of 2,340,821. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The firm has a market cap of $165.96 billion, a PE ratio of 44.20, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58. Amgen Inc. has a 12 month low of $218.44 and a 12 month high of $329.72. The stock’s fifty day moving average price is $303.81 and its two-hundred day moving average price is $292.91.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results 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. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. Amgen’s revenue was up 22.0% on a year-over-year basis. On average, analysts forecast that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

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.