NewEdge Wealth LLC Has $36.08 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Key Points

• NewEdge Wealth LLC increased its holdings in Amgen Inc. by 40.9%, now owning 115,818 shares valued at $36.08 million.
• Amgen reported earnings of $4.90 per share for the latest quarter, exceeding analysts' expectations of $4.18, with a 9.4% increase in revenue year-over-year.
• The company declared a quarterly dividend of $2.38 per share, yielding 3.2%, set to be paid on September 12th.

NewEdge Wealth LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 40.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,818 shares of the medical research company's stock after buying an additional 33,622 shares during the quarter. NewEdge Wealth LLC's holdings in Amgen were worth $36,083,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. First Pacific Financial boosted its stake in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after acquiring an additional 67 shares in the last quarter. Pinney & Scofield Inc. bought a new position in Amgen during the fourth quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in Amgen by 1,388.9% during the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after acquiring an additional 125 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in Amgen during the fourth quarter worth $36,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley reissued an "equal weight" rating 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. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned 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 a consensus target price of $307.27.

Amgen Stock Performance

NASDAQ AMGN opened at $296.88 on Friday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $339.17. The company has a 50-day simple moving average of $292.04 and a 200 day simple moving average of $292.03. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The company has a market capitalization of $159.64 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 2.57 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the company posted $3.96 earnings per share. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

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

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated 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 in the company, 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. Company insiders own 0.76% 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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