Cohen Capital Management Inc. Has $596,000 Holdings in Amgen Inc. (NASDAQ:AMGN)

Cohen Capital Management Inc. raised its stake in Amgen Inc. (NASDAQ:AMGN) by 5.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,096 shares of the medical research company’s stock after acquiring an additional 102 shares during the quarter. Cohen Capital Management Inc.’s holdings in Amgen were worth $596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Horizon Financial Services LLC acquired a new stake in shares of Amgen during the 1st quarter worth approximately $28,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen during the 4th quarter worth approximately $29,000. United Community Bank acquired a new stake in shares of Amgen during the 4th quarter worth approximately $29,000. Planned Solutions Inc. acquired a new stake in shares of Amgen during the 4th quarter worth approximately $30,000. Finally, Delos Wealth Advisors LLC grew its position in shares of Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AMGN shares. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. UBS Group lifted their price objective on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. Argus lifted their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, Morgan Stanley reduced their price objective on shares of Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $307.00.

Amgen Stock Performance

Shares of NASDAQ:AMGN traded up $3.42 on Thursday, hitting $325.09. The company had a trading volume of 2,253,879 shares, compared to its average volume of 2,721,015. Amgen Inc. has a 1-year low of $224.09 and a 1-year high of $329.72. The stock has a market cap of $174.39 billion, a price-to-earnings ratio of 46.44, a P/E/G ratio of 2.81 and a beta of 0.58. The stock has a 50 day moving average price of $308.79 and a 200 day moving average price of $294.36. The company has a current ratio of 1.42, a quick ratio of 0.98 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 analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. Amgen’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.98 earnings per share. Analysts expect that Amgen Inc. will post 19.47 EPS for the current year.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’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 completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.69% of the stock is currently owned by company insiders.

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.