Newbridge Financial Services Group Inc. Takes $120,000 Position in Amgen Inc. (NASDAQ:AMGN)

Newbridge Financial Services Group Inc. acquired a new stake in Amgen Inc. (NASDAQ:AMGNFree Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 422 shares of the medical research company’s stock, valued at approximately $120,000.

A number of other hedge funds have also made changes to their positions in the business. Fuller & Thaler Asset Management Inc. grew its stake in Amgen by 1.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock worth $3,133,000 after buying an additional 193 shares during the last quarter. Diversified Trust Co grew its stake in Amgen by 76.8% during the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after buying an additional 16,376 shares during the last quarter. Provence Wealth Management Group grew its stake in Amgen by 11.9% during the 4th quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock worth $416,000 after buying an additional 154 shares during the last quarter. Kinsale Capital Group Inc. grew its stake in Amgen by 33.0% during the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock worth $3,269,000 after buying an additional 2,814 shares during the last quarter. Finally, Nicolet Advisory Services LLC grew its stake in Amgen by 4.4% during the 3rd quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after buying an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

NASDAQ AMGN traded down $5.44 during mid-day trading on Wednesday, hitting $309.41. The stock had a trading volume of 2,846,284 shares, compared to its average volume of 2,842,832. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The company has a market cap of $165.98 billion, a price-to-earnings ratio of 44.20, a P/E/G ratio of 2.83 and a beta of 0.60. The company has a 50 day simple moving average of $283.58 and a 200 day simple moving average of $285.13. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGNGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period last year, the business posted $3.98 EPS. Amgen’s quarterly revenue was up 22.0% on a year-over-year basis. Equities analysts forecast that Amgen Inc. will post 19.46 EPS for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research reports. Oppenheimer restated an “outperform” rating and set a $350.00 price target on shares of Amgen in a research note on Thursday, February 1st. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. TD Cowen decreased their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. BMO Capital Markets increased their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $305.65.

Check Out Our Latest Stock Analysis on Amgen

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is currently owned by company insiders.

Amgen Company Profile

(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

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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