Amgen Inc. (NASDAQ:AMGN) Shares Acquired by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC increased its stake in Amgen Inc. by 67.4%, acquiring 33,510 shares valued at approximately $10.44 million as of the end of the latest reporting period.
• Several institutional investors have adjusted their positions in Amgen during the first quarter, resulting in 76.50% of the company's stock being owned by these entities.
• Amgen announced a quarterly dividend of $2.38 per share, reflecting an annualized dividend yield of 3.2% with a payout ratio of 86.86%.

New Age Alpha Advisors LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 67.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,510 shares of the medical research company's stock after purchasing an additional 13,491 shares during the quarter. New Age Alpha Advisors LLC's holdings in Amgen were worth $10,440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Plan Group Financial LLC acquired a new stake in Amgen during the first quarter worth $420,000. MWA Asset Management raised its stake in Amgen by 19.2% in the first quarter. MWA Asset Management now owns 3,055 shares of the medical research company's stock valued at $952,000 after buying an additional 493 shares in the last quarter. NewEdge Wealth LLC increased its position in shares of Amgen by 40.9% during the first quarter. NewEdge Wealth LLC now owns 115,818 shares of the medical research company's stock worth $36,083,000 after purchasing an additional 33,622 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Amgen by 4.3% during the first quarter. Commonwealth Equity Services LLC now owns 416,417 shares of the medical research company's stock worth $129,735,000 after purchasing an additional 17,183 shares in the last quarter. Finally, Raiffeisen Bank International AG increased its position in Amgen by 4.3% in the 1st quarter. Raiffeisen Bank International AG now owns 84,280 shares of the medical research company's stock valued at $25,870,000 after acquiring an additional 3,466 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of analyst reports. Royal Bank Of Canada lowered their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Bank of America upped their price objective on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. UBS Group upped their price objective on Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $307.27.

Amgen Stock Performance

NASDAQ:AMGN opened at $301.94 on Tuesday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $339.17. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The firm has a market capitalization of $162.36 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 2.57 and a beta of 0.49. The firm has a 50-day moving average price of $292.64 and a 200 day moving average price of $292.40.

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be issued a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.2%. Amgen's dividend payout ratio (DPR) is presently 86.86%.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.69% of the company's stock.

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.

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