Stonebridge Financial Group LLC Invests $3.21 Million in Amgen Inc. (NASDAQ:AMGN)

Stonebridge Financial Group LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,324 shares of the medical research company’s stock, valued at approximately $3,212,000.

Other institutional investors have also recently modified their holdings of the company. AMF Tjanstepension AB boosted its holdings in Amgen by 16.9% during the third quarter. AMF Tjanstepension AB now owns 120,389 shares of the medical research company’s stock worth $38,825,000 after buying an additional 17,387 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its position in shares of Amgen by 3.9% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 2,569 shares of the medical research company’s stock valued at $828,000 after acquiring an additional 96 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Amgen during the 3rd quarter worth approximately $234,000. Thomasville National Bank grew its holdings in shares of Amgen by 1.8% in the 3rd quarter. Thomasville National Bank now owns 3,447 shares of the medical research company’s stock worth $1,111,000 after acquiring an additional 60 shares during the period. Finally, Patriot Investment Management Group Inc. increased its stake in Amgen by 4.4% in the 3rd quarter. Patriot Investment Management Group Inc. now owns 5,305 shares of the medical research company’s stock valued at $1,709,000 after purchasing an additional 223 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on AMGN. StockNews.com downgraded Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Bank of America raised their target price on shares of Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a report on Thursday, February 6th. Piper Sandler upped their price target on shares of Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a report on Monday. Finally, William Blair reissued an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $314.09.

Insider Activity

In related news, 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 value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan P. Graham sold 25,045 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $293.12, for a total transaction of $7,341,190.40. Following the completion of the sale, the executive vice president now directly owns 28,987 shares in the company, valued at $8,496,669.44. This represents a 46.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Amgen Stock Up 0.4 %

Shares of NASDAQ AMGN opened at $294.79 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock has a market capitalization of $158.46 billion, a PE ratio of 39.05, a P/E/G ratio of 3.01 and a beta of 0.56. The firm has a fifty day moving average of $272.26 and a 200-day moving average of $302.77. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, beating the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, analysts anticipate that Amgen Inc. will post 20.59 EPS for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 14th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 119.21%.

Amgen Company 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.