Pinebridge Investments L.P. Purchases 86,927 Shares of Amgen Inc. (NASDAQ:AMGN)

Pinebridge Investments L.P. lifted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 250.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,613 shares of the medical research company's stock after acquiring 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 reporting period.

A number of other large investors have also recently made changes to their positions in AMGN. Capital World Investors raised its holdings in shares of Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after buying an additional 6,029,058 shares during the period. Norges Bank purchased a new stake in Amgen in the fourth quarter worth $1,541,991,000. Capital International Investors boosted its stake in shares of Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Amgen in the 4th quarter worth about $401,913,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Up 1.7 %

Shares of NASDAQ:AMGN opened at $278.40 on Wednesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock has a market cap of $149.68 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 2.63 and a beta of 0.59. The business has a 50-day moving average price of $302.25 and a 200-day moving average price of $293.45.

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

Amgen Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.42%. Amgen's payout ratio is 126.09%.

Insider Activity at Amgen

In related news, EVP Murdo Gordon sold 8,771 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $294.79, for a total transaction of $2,585,603.09. Following the sale, the executive vice president now directly owns 44,186 shares of the company's stock, valued at approximately $13,025,590.94. This represents a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Nancy A. Grygiel sold 1,589 shares of Amgen stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares of the company's stock, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Amgen from a "strong-buy" rating to a "buy" rating in a research note on Thursday, April 17th. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Citigroup reissued a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Piper Sandler Companies restated an "overweight" rating and issued a $310.00 price objective on shares of Amgen in a report on Thursday, January 2nd. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $310.57.

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.

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