CVA Family Office LLC Grows Holdings in Amgen Inc. (NASDAQ:AMGN)

CVA Family Office LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,740 shares of the medical research company’s stock after buying an additional 159 shares during the period. CVA Family Office LLC’s holdings in Amgen were worth $1,165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Powers Advisory Group LLC grew its stake in Amgen by 11.6% in the 1st quarter. Powers Advisory Group LLC now owns 1,340 shares of the medical research company’s stock worth $417,000 after buying an additional 139 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in Amgen by 2.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 26,344 shares of the medical research company’s stock worth $8,207,000 after buying an additional 678 shares in the last quarter. Defined Wealth Management LLC grew its stake in Amgen by 3.4% in the 1st quarter. Defined Wealth Management LLC now owns 1,580 shares of the medical research company’s stock worth $492,000 after buying an additional 52 shares in the last quarter. Wealth Advisors Northwest LLC purchased a new position in Amgen in the 1st quarter worth approximately $230,000. Finally, Stanley Laman Group Ltd. grew its stake in Amgen by 32.8% in the 1st quarter. Stanley Laman Group Ltd. now owns 13,215 shares of the medical research company’s stock worth $4,117,000 after buying an additional 3,262 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.7%

Shares of AMGN opened at $295.22 on Friday. The stock has a market capitalization of $158.74 billion, a P/E ratio of 39.10, a PEG ratio of 2.63 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a fifty day simple moving average of $281.33 and a two-hundred day simple moving average of $285.58. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter in the prior year, the company posted $3.96 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now directly owns 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of a number of research reports. Royal Bank of Canada cut their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. UBS Group reaffirmed a “neutral” rating and issued a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of Amgen in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price objective for the company. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and an average target price of $309.22.

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.