Norden Group LLC Increases Stake in Amgen Inc. (NASDAQ:AMGN)

Norden Group LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 45.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,228 shares of the medical research company’s stock after purchasing an additional 2,271 shares during the period. Amgen makes up 0.3% of Norden Group LLC’s portfolio, making the stock its 28th largest position. Norden Group LLC’s holdings in Amgen were worth $2,082,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AMGN. Duff & Phelps Investment Management Co. lifted its stake in shares of Amgen by 0.6% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 5,941 shares of the medical research company’s stock valued at $1,711,000 after acquiring an additional 35 shares during the last quarter. Field & Main Bank lifted its position in Amgen by 0.6% in the fourth quarter. Field & Main Bank now owns 7,393 shares of the medical research company’s stock valued at $2,129,000 after purchasing an additional 45 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of Amgen by 9.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 54,936 shares of the medical research company’s stock valued at $15,823,000 after purchasing an additional 4,635 shares during the period. Ledyard National Bank boosted its position in Amgen by 1.9% during the 4th quarter. Ledyard National Bank now owns 32,423 shares of the medical research company’s stock valued at $9,338,000 after buying an additional 597 shares during the period. Finally, Steele Capital Management Inc. bought a new stake in Amgen in the 4th quarter worth $297,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on AMGN shares. TD Cowen cut their price target on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. SVB Leerink lowered shares of Amgen from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $324.00 to $318.00 in a research note on Wednesday, February 7th. The Goldman Sachs Group upped their target price on shares of Amgen from $313.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $329.00 price target on shares of Amgen in a research note on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.40.

Amgen Stock Performance

AMGN traded down $1.64 during midday trading on Tuesday, reaching $274.74. The company had a trading volume of 766,260 shares, compared to its average volume of 2,795,456. Amgen Inc. has a 1 year low of $211.71 and a 1 year high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The company has a market cap of $147.37 billion, a P/E ratio of 22.04, a P/E/G ratio of 2.61 and a beta of 0.58. The business has a 50-day moving average of $274.96 and a two-hundred day moving average of $281.45.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the previous year, the firm earned $4.09 earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, equities research analysts predict that Amgen Inc. will post 19.43 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 annualized dividend and a yield of 3.28%. Amgen’s payout ratio is 72.06%.

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.