Pinebridge Investments L.P. Raises Position in Amgen Inc. (NASDAQ:AMGN)

Pinebridge Investments L.P. boosted its stake in Amgen Inc. (NASDAQ:AMGNFree Report) by 66.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,401 shares of the medical research company’s stock after buying an additional 48,099 shares during the quarter. Pinebridge Investments L.P.’s holdings in Amgen were worth $34,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Amgen by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock worth $13,178,910,000 after purchasing an additional 165,636 shares in the last quarter. Northern Trust Corp lifted its stake in Amgen by 3.8% in the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock worth $1,875,306,000 after purchasing an additional 255,463 shares in the last quarter. Norges Bank purchased a new position in Amgen in the 4th quarter worth approximately $1,556,912,000. Royal Bank of Canada lifted its stake in Amgen by 11.4% in the 3rd quarter. Royal Bank of Canada now owns 5,079,677 shares of the medical research company’s stock worth $1,365,213,000 after purchasing an additional 518,689 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Amgen by 15.9% in the 3rd quarter. Invesco Ltd. now owns 3,356,359 shares of the medical research company’s stock worth $902,055,000 after purchasing an additional 459,340 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Amgen Stock Down 0.5 %

Shares of Amgen stock traded down $1.69 during trading on Thursday, hitting $305.69. 1,927,872 shares of the stock were exchanged, compared to its average volume of 2,810,042. The stock has a market cap of $163.98 billion, a price-to-earnings ratio of 43.67, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The firm’s 50-day moving average price is $289.72 and its 200 day moving average price is $287.71. Amgen Inc. has a 12-month low of $215.32 and a 12-month high of $329.72. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98.

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 (EPS) for the quarter, topping the consensus estimate of $3.76 by $0.20. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.98 EPS. As a group, analysts forecast that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMGN. Raymond James initiated coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Truist Financial reaffirmed a “buy” rating and set a $320.00 price target on shares of Amgen in a research report on Friday, April 12th. UBS Group lifted their price target on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Finally, TD Cowen reduced their price target on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $305.65.

View Our Latest Stock Report on AMGN

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.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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