Rodgers Brothers Inc. Raises Position in Amgen Inc. (NASDAQ:AMGN)

Rodgers Brothers Inc. lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 302.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,622 shares of the medical research company’s stock after purchasing an additional 5,730 shares during the period. Rodgers Brothers Inc.’s holdings in Amgen were worth $1,896,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Amgen by 2.0% during the 1st quarter. BlackRock Inc. now owns 48,772,074 shares of the medical research company’s stock worth $12,134,979,000 after purchasing an additional 966,280 shares during the last quarter. Morgan Stanley increased its stake in shares of Amgen by 2.2% during the 1st quarter. Morgan Stanley now owns 9,960,010 shares of the medical research company’s stock worth $2,478,151,000 after purchasing an additional 214,454 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Amgen by 10.0% during the 1st quarter. Geode Capital Management LLC now owns 9,680,430 shares of the medical research company’s stock worth $2,402,520,000 after purchasing an additional 879,184 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Amgen by 0.3% during the 1st quarter. Clearbridge Investments LLC now owns 5,787,233 shares of the medical research company’s stock worth $1,439,922,000 after purchasing an additional 16,353 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Amgen during the 4th quarter worth approximately $1,302,778,000. Institutional investors own 75.16% of the company’s stock.

In related news, Director Ronald D. Sugar sold 1,000 shares of Amgen stock in a transaction on Wednesday, May 12th. The shares were sold at an average price of $250.59, for a total value of $250,590.00. Following the transaction, the director now owns 16,927 shares in the company, valued at approximately $4,241,736.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Nancy A. Grygiel sold 2,500 shares of Amgen stock in a transaction on Tuesday, May 11th. The stock was sold at an average price of $252.51, for a total transaction of $631,275.00. Following the completion of the transaction, the senior vice president now owns 14,961 shares in the company, valued at approximately $3,777,802.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,750 shares of company stock worth $944,810. 0.36% of the stock is owned by corporate insiders.

Several brokerages have recently issued reports on AMGN. JPMorgan Chase & Co. restated a “neutral” rating and set a $215.00 price target on shares of Amgen in a research note on Wednesday, April 28th. Credit Suisse Group cut their price objective on shares of Amgen from $265.00 to $259.00 and set an “outperform” rating for the company in a report on Wednesday, April 28th. BMO Capital Markets raised their price objective on shares of Amgen from $296.00 to $301.00 and gave the stock an “outperform” rating in a report on Monday, May 31st. SVB Leerink raised their price objective on shares of Amgen from $230.00 to $238.00 and gave the stock a “market perform” rating in a report on Monday, June 7th. Finally, Atlantic Securities reaffirmed an “underweight” rating and issued a $200.00 price objective on shares of Amgen in a report on Tuesday, May 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. Amgen presently has a consensus rating of “Hold” and an average target price of $256.14.

Shares of Amgen stock traded up $1.03 on Thursday, hitting $245.88. 32,573 shares of the company traded hands, compared to its average volume of 2,141,520. The company’s 50-day simple moving average is $243.18. The company has a current ratio of 1.66, a quick ratio of 1.34 and a debt-to-equity ratio of 3.34. The company has a market capitalization of $141.27 billion, a P/E ratio of 20.29, a P/E/G ratio of 1.79 and a beta of 0.71. Amgen Inc. has a 12-month low of $210.28 and a 12-month high of $276.69.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Monday, April 26th. The medical research company reported $3.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.05 by ($0.35). The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.30 billion. Amgen had a net margin of 28.16% and a return on equity of 93.84%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.17 EPS. Research analysts forecast that Amgen Inc. will post 16.41 EPS for the current year.

Amgen Company Profile

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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