NewEdge Wealth LLC boosted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 40.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,818 shares of the medical research company's stock after acquiring an additional 33,622 shares during the period. NewEdge Wealth LLC's holdings in Amgen were worth $36,083,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors raised its stake in shares of Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares in the last quarter. Capital World Investors increased its stake in shares of Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. Northern Trust Corp increased its stake in shares of Amgen by 15.8% in the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after purchasing an additional 875,254 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Amgen by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock valued at $1,336,647,000 after acquiring an additional 685,785 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in Amgen by 20.7% during the fourth quarter. Capital Research Global Investors now owns 4,890,092 shares of the medical research company's stock worth $1,274,553,000 after buying an additional 839,686 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction 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 transaction, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.76% of the company's stock.
Analyst Ratings Changes
A number of research firms recently weighed in on AMGN. Citigroup boosted their price target on shares of Amgen from $305.00 to $310.00 and gave the stock a "neutral" rating in a research note on Wednesday. Guggenheim started coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. UBS Group cut their target price on shares of Amgen from $326.00 to $317.00 and set a "neutral" rating for the company in a research note on Wednesday. Finally, Mizuho raised their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen presently has an average rating of "Hold" and an average price target of $307.23.
Check Out Our Latest Research Report on Amgen
Amgen Price Performance
AMGN stock traded up $1.30 during midday trading on Thursday, reaching $285.97. The company had a trading volume of 941,205 shares, compared to its average volume of 2,901,821. The firm has a 50-day moving average price of $293.18 and a 200-day moving average price of $292.39. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The company has a market capitalization of $153.77 billion, a P/E ratio of 23.34, a P/E/G ratio of 2.60 and a beta of 0.49.
Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.28 by $0.74. Amgen had a net margin of 18.96% and a return on equity of 180.66%. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the firm earned $4.97 earnings per share. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.
Amgen Dividend Announcement
The company 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 dividend of $2.38 per share. 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 (DPR) is 77.84%.
About Amgen
(
Free Report)
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.
Further Reading
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