Newbridge Financial Services Group Inc. Buys 418 Shares of Amgen Inc. (NASDAQ:AMGN)

Newbridge Financial Services Group Inc. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 99.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 840 shares of the medical research company’s stock after acquiring an additional 418 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Amgen were worth $263,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. SS&H Financial Advisors Inc. boosted its stake in shares of Amgen by 12.9% during the second quarter. SS&H Financial Advisors Inc. now owns 11,830 shares of the medical research company’s stock valued at $3,696,000 after purchasing an additional 1,350 shares in the last quarter. Cannon Financial Strategists Inc. bought a new stake in Amgen during the 2nd quarter valued at $352,000. Heritage Wealth Management Inc. purchased a new position in shares of Amgen in the 2nd quarter valued at $846,000. Lazari Capital Management Inc. raised its position in shares of Amgen by 2.1% in the 2nd quarter. Lazari Capital Management Inc. now owns 2,367 shares of the medical research company’s stock worth $740,000 after acquiring an additional 49 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Amgen during the 2nd quarter worth $21,049,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Down 0.2 %

Shares of AMGN opened at $319.73 on Thursday. Amgen Inc. has a twelve month low of $249.70 and a twelve month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $171.51 billion, a P/E ratio of 45.68, a PEG ratio of 2.98 and a beta of 0.61. The firm’s 50-day moving average is $327.92 and its two-hundred day moving average is $308.56.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period last year, the firm earned $5.00 EPS. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, research analysts predict that Amgen Inc. will post 19.49 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, August 16th were issued a $2.25 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 dividend on an annualized basis and a yield of 2.81%. Amgen’s dividend payout ratio (DPR) is 128.57%.

Analyst Ratings Changes

AMGN has been the topic of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a report on Wednesday, August 7th. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $325.55.

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.