FCG Investment Co Increases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

FCG Investment Co boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 54.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,347 shares of the medical research company’s stock after purchasing an additional 1,176 shares during the period. FCG Investment Co’s holdings in Amgen were worth $952,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AMGN. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 165,636 shares during the period. Price T Rowe Associates Inc. MD increased its position in Amgen by 3.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,564,710 shares of the medical research company’s stock valued at $1,890,769,000 after acquiring an additional 243,720 shares during the period. Royal Bank of Canada raised its stake in Amgen by 14.8% during the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after acquiring an additional 751,947 shares in the last quarter. Norges Bank bought a new stake in Amgen during the 4th quarter valued at $1,556,912,000. Finally, California Public Employees Retirement System boosted its position in Amgen by 22.0% during the 4th quarter. California Public Employees Retirement System now owns 2,716,088 shares of the medical research company’s stock worth $782,288,000 after acquiring an additional 490,539 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amgen

In related 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 value of $662,811.53. Following 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 at this link. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. Argus upped their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. BMO Capital Markets raised their price objective on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. UBS Group upped their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, TD Cowen lowered their price target on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $307.35.

Amgen Stock Down 0.4 %

Amgen stock traded down $1.39 during mid-day trading on Thursday, hitting $309.38. The company’s stock 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 current ratio of 1.42 and a quick ratio of 0.98. The company 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. The firm’s 50 day moving average is $303.81 and its 200 day moving average is $292.91. Amgen Inc. has a 52-week low of $218.44 and a 52-week high of $329.72.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (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 during the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the prior year, the firm earned $3.98 EPS. The company’s revenue was up 22.0% compared to the same quarter last year. On average, analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current year.

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.