Stonegate Investment Group LLC Buys 3,217 Shares of Amgen Inc. (NASDAQ:AMGN)

Stonegate Investment Group LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,647 shares of the medical research company’s stock after purchasing an additional 3,217 shares during the quarter. Amgen accounts for 2.2% of Stonegate Investment Group LLC’s investment portfolio, making the stock its 14th largest position. Stonegate Investment Group LLC’s holdings in Amgen were worth $83,339,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AMGN. Capital International Investors increased its holdings in Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after acquiring an additional 5,923,915 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after purchasing an additional 1,377,007 shares during the last quarter. Capital Wealth Planning LLC lifted its position in Amgen by 28,684.1% in the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after buying an additional 830,405 shares during the last quarter. Finally, Granite Bay Wealth Management LLC boosted its stake in Amgen by 9,058.1% in the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after buying an additional 748,200 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on AMGN. Cantor Fitzgerald began coverage on shares of Amgen in a research note on Friday, September 27th. They set an “overweight” rating and a $405.00 price target on the stock. Sanford C. Bernstein began coverage on shares of Amgen in a report on Thursday. They issued an “outperform” rating and a $380.00 price objective for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a research note on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Finally, Bank of America lifted their price objective on Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and an average price target of $329.48.

Amgen Stock Performance

NASDAQ:AMGN traded down $0.81 on Friday, hitting $320.52. The stock had a trading volume of 344,410 shares, compared to its average volume of 2,441,998. The business’s 50-day simple moving average is $326.08 and its two-hundred day simple moving average is $311.63. Amgen Inc. has a 52-week low of $249.70 and a 52-week high of $346.85. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. The stock has a market cap of $171.94 billion, a price-to-earnings ratio of 45.84, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the company earned $5.00 earnings per share. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, research analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were given a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.81%. Amgen’s payout ratio is currently 128.57%.

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.