Princeton Global Asset Management LLC Increases Holdings in Amgen Inc. (NASDAQ:AMGN)

Princeton Global Asset Management LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGNGet Rating) by 190.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 290 shares of the medical research company’s stock after acquiring 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 hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in Amgen during the fourth quarter worth $26,000. Norwood Financial Corp acquired a new position in Amgen during the 4th quarter worth $28,000. Landmark Wealth Management LLC acquired a new position in Amgen during the 1st quarter worth $28,000. Industrial Alliance Investment Management Inc. acquired a new position in Amgen during the 4th quarter worth $31,000. Finally, CKW Financial Group acquired a new position in Amgen during the 1st quarter worth $31,000. Institutional investors and hedge funds own 79.01% of the company’s stock.

Insiders Place Their Bets

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

Amgen Stock Down 0.1 %

Shares of Amgen stock opened at $246.98 on Friday. The business has a 50-day moving average of $245.32 and a 200-day moving average of $239.75. The company has a debt-to-equity ratio of 39.31, a current ratio of 1.44 and a quick ratio of 1.09. The company has a market capitalization of $131.94 billion, a PE ratio of 24.31, a P/E/G ratio of 2.04 and a beta of 0.56. Amgen Inc. has a 1-year low of $198.64 and a 1-year high of $258.45.

Amgen (NASDAQ:AMGNGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The medical research company reported $4.65 EPS for the quarter, topping the consensus estimate of $4.41 by $0.24. Amgen had a net margin of 21.75% and a return on equity of 165.95%. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.53 billion. During the same quarter last year, the company posted $4.38 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts forecast that Amgen Inc. will post 17.38 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.14%. Amgen’s dividend payout ratio is currently 76.38%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMGN. StockNews.com raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Monday, May 16th. Oppenheimer reissued an “outperform” rating and issued a $290.00 target price on shares of Amgen in a report on Friday, June 24th. Piper Sandler boosted their target price on Amgen from $255.00 to $260.00 in a report on Thursday, April 28th. TheStreet cut Amgen from a “b+” rating to a “c+” rating in a research report on Wednesday, April 27th. Finally, Morgan Stanley boosted their price target on Amgen from $239.00 to $253.00 and gave the company an “equal weight” rating in a research report on Friday, July 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $248.23.

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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