7,924 Shares in Amgen Inc. (NASDAQ:AMGN) Purchased by Range Financial Group LLC

Range Financial Group LLC purchased a new position in Amgen Inc. (NASDAQ:AMGNGet Rating) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,924 shares of the medical research company’s stock, valued at approximately $1,916,000. Amgen makes up about 1.2% of Range Financial Group LLC’s investment portfolio, making the stock its 14th largest holding.

A number of other hedge funds have also bought and sold shares of AMGN. BlackRock Inc. lifted its holdings in Amgen by 2.1% in the fourth quarter. BlackRock Inc. now owns 50,046,345 shares of the medical research company’s stock worth $11,258,926,000 after acquiring an additional 1,032,929 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Amgen by 1.4% in the first quarter. Vanguard Group Inc. now owns 47,329,045 shares of the medical research company’s stock worth $11,445,110,000 after acquiring an additional 668,036 shares during the last quarter. State Street Corp lifted its holdings in Amgen by 1.2% in the first quarter. State Street Corp now owns 30,504,420 shares of the medical research company’s stock worth $7,376,579,000 after acquiring an additional 357,413 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Amgen by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock worth $2,132,778,000 after acquiring an additional 94,565 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Amgen by 8.7% in the fourth quarter. Deutsche Bank AG now owns 5,660,218 shares of the medical research company’s stock worth $1,273,380,000 after acquiring an additional 453,750 shares during the last quarter. 77.14% of the stock is currently owned by institutional investors and hedge funds.

Amgen Stock Down 4.5 %

AMGN stock opened at $226.86 on Wednesday. Amgen Inc. has a 12-month low of $198.64 and a 12-month high of $258.45. The company has a quick ratio of 1.17, a current ratio of 1.53 and a debt-to-equity ratio of 14.76. The company has a market cap of $121.35 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.00 and a beta of 0.56. The company has a 50 day moving average of $246.02 and a two-hundred day moving average of $243.53.

Amgen (NASDAQ:AMGNGet Rating) last released its earnings results on Thursday, August 4th. The medical research company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.25. Amgen had a net margin of 24.92% and a return on equity of 218.34%. The company had revenue of $6.59 billion during the quarter, compared to the consensus estimate of $6.53 billion. During the same quarter in the prior year, the firm earned $4.38 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Amgen Inc. will post 17.45 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 18th were paid a $1.94 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $7.76 dividend on an annualized basis and a yield of 3.42%. Amgen’s payout ratio is presently 65.76%.

Insider Activity at Amgen

In related news, Director R Sanders Williams sold 200 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $249.96, for a total value of $49,992.00. Following the transaction, the director now directly owns 5,301 shares in the company, valued at approximately $1,325,037.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robert Eckert sold 6,600 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $249.00, for a total value of $1,643,400.00. Following the transaction, the director now directly owns 21,184 shares in the company, valued at approximately $5,274,816. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Sanders Williams sold 200 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $249.96, for a total transaction of $49,992.00. Following the completion of the sale, the director now directly owns 5,301 shares of the company’s stock, valued at $1,325,037.96. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on AMGN. Robert W. Baird restated an “underperform” rating and issued a $185.00 price target on shares of Amgen in a research note on Tuesday. StockNews.com lowered shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 8th. Royal Bank of Canada raised their price target on shares of Amgen from $224.00 to $236.00 in a research note on Friday, August 5th. Oppenheimer restated an “outperform” rating and issued a $290.00 price target on shares of Amgen in a research note on Thursday, September 1st. Finally, Piper Sandler raised their price target on shares of Amgen from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $241.13.

Amgen Company Profile

(Get Rating)

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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