Stonegate Investment Group LLC Purchases 127,475 Shares of Amgen Inc. (NASDAQ:AMGN)

Stonegate Investment Group LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 1,162.8% in the 1st quarter, Holdings Channel.com reports. The fund owned 138,438 shares of the medical research company’s stock after acquiring an additional 127,475 shares during the period. Stonegate Investment Group LLC’s holdings in Amgen were worth $39,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BIP Wealth LLC lifted its stake in shares of Amgen by 2.6% in the 4th quarter. BIP Wealth LLC now owns 1,249 shares of the medical research company’s stock valued at $360,000 after purchasing an additional 32 shares during the period. Southland Equity Partners LLC lifted its stake in shares of Amgen by 2.3% in the 4th quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after purchasing an additional 34 shares during the period. Acropolis Investment Management LLC lifted its stake in shares of Amgen by 3.5% in the 4th quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 34 shares during the period. Opal Wealth Advisors LLC lifted its stake in shares of Amgen by 1.9% in the 4th quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after purchasing an additional 34 shares during the period. Finally, Marino Stram & Associates LLC lifted its stake in shares of Amgen by 0.7% in the 4th quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after purchasing an additional 34 shares during the period. Institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.9 %

Shares of AMGN traded down $2.44 during mid-day trading on Tuesday, reaching $273.94. The stock had a trading volume of 2,476,256 shares, compared to its average volume of 2,816,730. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The business’s fifty day moving average is $274.76 and its 200 day moving average is $281.37. The firm has a market cap of $146.94 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 2.61 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the firm posted $4.09 earnings per share. Amgen’s quarterly revenue was up 19.8% on a year-over-year basis. On average, sell-side analysts predict that Amgen Inc. will post 19.43 EPS for the current fiscal year.

Amgen Announces Dividend

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 issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $329.00 target price on shares of Amgen in a research note on Wednesday, April 3rd. Morgan Stanley reduced their price objective on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Truist Financial restated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. Oppenheimer restated an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. Finally, Raymond James started coverage on shares of Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $297.40.

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.