Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Cary Street Partners Investment Advisory LLC

Key Points

• Cary Street Partners Investment Advisory LLC significantly increased its holdings in Amgen Inc. by 229.0%, acquiring 948 additional shares to hold a total of 1,362 shares valued at approximately $424,000.
• Other large investors, including Capital International Investors and Capital World Investors, have also boosted their stakes in Amgen, indicating a significant interest from institutional investors.
• Amgen recently declared a $2.38 quarterly dividend, which represents an annual yield of 3.2%, reflecting the company’s commitment to returning value to its shareholders.

Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 229.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,362 shares of the medical research company's stock after acquiring an additional 948 shares during the period. Cary Street Partners Investment Advisory LLC's holdings in Amgen were worth $424,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AMGN. Brighton Jones LLC boosted its position in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Amgen in the fourth quarter valued at $8,798,000. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Amgen by 26.4% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,437 shares of the medical research company's stock worth $1,156,000 after purchasing an additional 928 shares in the last quarter. Trek Financial LLC lifted its holdings in shares of Amgen by 44.9% in the 4th quarter. Trek Financial LLC now owns 4,139 shares of the medical research company's stock valued at $1,079,000 after purchasing an additional 1,282 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE lifted its holdings in shares of Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on AMGN shares. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Royal Bank Of Canada decreased their price target 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 dropped their price target on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Morgan Stanley upped their price objective on Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Amgen presently has an average rating of "Hold" and a consensus price target of $307.23.

Amgen Price Performance

NASDAQ AMGN traded up $0.03 during mid-day trading on Thursday, hitting $284.70. The stock had a trading volume of 2,588,846 shares, compared to its average volume of 2,017,625. The company has a 50 day simple moving average of $293.20 and a 200 day simple moving average of $292.48. The company has a quick ratio of 0.88, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company has a market cap of $153.09 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 2.46 and a beta of 0.49. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $8.86 billion. During the same quarter last year, the business posted $4.97 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 22nd will be given a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 annualized dividend and a dividend yield of 3.3%. Amgen's dividend payout ratio is currently 77.84%.

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.