Pinebridge Investments L.P. Has $31.70 Million Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Pinebridge Investments L.P. boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 250.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,613 shares of the medical research company's stock after purchasing an additional 86,927 shares during the quarter. Pinebridge Investments L.P.'s holdings in Amgen were worth $31,697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in Amgen in the 3rd quarter valued at approximately $1,588,000. Morse Asset Management Inc acquired a new position in Amgen in the third quarter valued at about $806,000. Tudor Financial Inc. bought a new stake in Amgen during the 3rd quarter worth approximately $3,281,000. World Investment Advisors LLC increased its holdings in Amgen by 48.4% during the 3rd quarter. World Investment Advisors LLC now owns 11,083 shares of the medical research company's stock valued at $3,571,000 after purchasing an additional 3,616 shares in the last quarter. Finally, Arvest Bank Trust Division bought a new position in Amgen in the 3rd quarter valued at $408,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 1,589 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the sale, the senior vice president now owns 7,210 shares of the company's stock, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now directly owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 in the last three months. 0.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMGN has been the topic of a number of research analyst reports. Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Morgan Stanley raised their price target on shares of Amgen from $328.00 to $330.00 and gave the company an "equal weight" rating in a report on Wednesday, April 9th. UBS Group boosted their price objective on shares of Amgen from $315.00 to $319.00 and gave the stock a "neutral" rating in a research report on Monday, April 14th. Cantor Fitzgerald assumed coverage on Amgen in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price objective on the stock. Finally, Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $310.57.

Amgen Price Performance

Amgen stock traded up $1.40 during trading hours on Monday, reaching $282.24. 523,769 shares of the stock were exchanged, compared to its average volume of 2,782,660. The stock has a 50 day moving average of $301.52 and a two-hundred day moving average of $292.42. The company has a market cap of $151.75 billion, a P/E ratio of 37.40, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.04 by $0.27. Amgen had a return on equity of 176.32% and a net margin of 12.24%. Equities analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio (DPR) is presently 126.09%.

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.