Exchange Capital Management Inc. Sells 74 Shares of Amgen Inc. (NASDAQ:AMGN)

Exchange Capital Management Inc. lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AMGN. Sherbrooke Park Advisers LLC purchased a new stake in Amgen in the 3rd quarter worth about $411,000. Schonfeld Strategic Advisors LLC purchased a new stake in Amgen in the 3rd quarter worth about $17,072,000. Lazard Asset Management LLC raised its position in Amgen by 114.5% in the 3rd quarter. Lazard Asset Management LLC now owns 36,595 shares of the medical research company’s stock worth $9,833,000 after purchasing an additional 19,532 shares during the period. Insigneo Advisory Services LLC grew its stake in Amgen by 5.9% in the 3rd quarter. Insigneo Advisory Services LLC now owns 2,618 shares of the medical research company’s stock worth $704,000 after acquiring an additional 145 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in Amgen by 33.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 13,844 shares of the medical research company’s stock worth $3,721,000 after acquiring an additional 3,454 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of NASDAQ AMGN traded up $1.01 during trading on Tuesday, hitting $312.02. The company had a trading volume of 628,705 shares, compared to its average volume of 2,765,796. The stock has a fifty day simple moving average of $301.56 and a two-hundred day simple moving average of $292.30. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week high of $329.72. The firm has a market capitalization of $167.38 billion, a price-to-earnings ratio of 44.43, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

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

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on AMGN shares. Royal Bank of Canada upped their target price on shares of Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Argus increased their price objective 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. BMO Capital Markets increased 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. TD Cowen dropped their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Finally, UBS Group increased their price objective on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.35.

Amgen Company 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.