Amgen Inc. (NASDAQ:AMGN) Holdings Boosted by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC boosted its position in shares of Amgen Inc. (NASDAQ:AMGN – Get Rating) by 190.0% during the 1st quarter, HoldingsChannel reports. The firm owned 290 shares of the medical research company’s stock after buying an additional 190 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Amgen were worth $70,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Amgen by 2.1% in the 4th quarter. BlackRock Inc. now owns 50,046,345 shares of the medical research company’s stock valued at $11,258,926,000 after purchasing an additional 1,032,929 shares during the last quarter. State Street Corp lifted its stake in shares of Amgen by 1.7% in the 4th quarter. State Street Corp now owns 30,147,007 shares of the medical research company’s stock valued at $6,782,172,000 after purchasing an additional 505,306 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Amgen by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,725,125 shares of the medical research company’s stock valued at $1,962,892,000 after purchasing an additional 561,955 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Amgen by 8.7% in the 4th quarter. Deutsche Bank AG now owns 5,660,218 shares of the medical research company’s stock valued at $1,273,380,000 after purchasing an additional 453,750 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Amgen in the 4th quarter valued at $1,138,930,000. 79.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Jonathan P. Graham sold 13,500 shares of the stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $241.81, for a total transaction of $3,264,435.00. Following the completion of the transaction, the executive vice president now directly owns 37,333 shares in the company, valued at $9,027,492.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Amgen news, EVP Jonathan P. Graham sold 13,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $241.81, for a total value of $3,264,435.00. Following the completion of the transaction, the executive vice president now directly owns 37,333 shares in the company, valued at $9,027,492.73. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director R Sanders Williams sold 600 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $250.00, for a total value of $150,000.00. Following the completion of the transaction, the director now owns 5,501 shares of the company’s stock, valued at $1,375,250. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the subject of several research analyst reports. Mizuho boosted their price objective on Amgen from $202.00 to $208.00 in a research report on Tuesday, May 10th. Barclays boosted their target price on shares of Amgen from $233.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 12th. TheStreet downgraded shares of Amgen from a “b+” rating to a “c+” rating in a report on Wednesday, April 27th. Piper Sandler boosted their price objective on shares of Amgen from $255.00 to $260.00 in a report on Thursday, April 28th. Finally, StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $248.23.

Amgen Trading Down 0.1 %

NASDAQ:AMGN opened at $246.98 on Friday. Amgen Inc. has a 1-year low of $198.64 and a 1-year high of $258.45. The business’s 50-day moving average price is $245.32 and its two-hundred day moving average price is $239.75. The company has a current ratio of 1.44, a quick ratio of 1.09 and a debt-to-equity ratio of 39.31. The firm has a market capitalization of $131.94 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 2.04 and a beta of 0.56.

Amgen (NASDAQ:AMGN – Get Rating) last released its earnings results on Thursday, August 4th. The medical research company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.41 by $0.24. Amgen had a return on equity of 165.95% and a net margin of 21.75%. The firm had revenue of $6.59 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same quarter in the prior year, the firm posted $4.38 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts expect that Amgen Inc. will post 17.38 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th will be issued a $1.94 dividend. This represents a $7.76 annualized dividend and a dividend yield of 3.14%. Amgen’s dividend payout ratio (DPR) is currently 76.38%.

Amgen Company Profile

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Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.