Clearbridge Investments LLC Has $23.76 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Clearbridge Investments LLC decreased its holdings in Amgen Inc. (NASDAQ:AMGN) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,046 shares of the medical research company’s stock after selling 939 shares during the period. Clearbridge Investments LLC’s holdings in Amgen were worth $23,760,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. KPP Advisory Services LLC lifted its stake in Amgen by 3.9% in the second quarter. KPP Advisory Services LLC now owns 2,802 shares of the medical research company’s stock valued at $875,000 after acquiring an additional 104 shares during the last quarter. New Century Financial Group LLC raised its holdings in shares of Amgen by 4.9% during the 2nd quarter. New Century Financial Group LLC now owns 3,214 shares of the medical research company’s stock valued at $1,004,000 after purchasing an additional 151 shares in the last quarter. Founders Financial Alliance LLC raised its holdings in shares of Amgen by 3.4% during the 2nd quarter. Founders Financial Alliance LLC now owns 2,568 shares of the medical research company’s stock valued at $802,000 after purchasing an additional 84 shares in the last quarter. SPC Financial Inc. boosted its holdings in Amgen by 7.0% in the second quarter. SPC Financial Inc. now owns 2,469 shares of the medical research company’s stock worth $771,000 after purchasing an additional 162 shares in the last quarter. Finally, Granite Bay Wealth Management LLC increased its position in Amgen by 9,058.1% during the second quarter. Granite Bay Wealth Management LLC now owns 756,460 shares of the medical research company’s stock worth $223,897,000 after buying an additional 748,200 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN stock opened at $319.66 on Friday. The stock has a 50 day moving average of $327.28 and a two-hundred day moving average of $308.96. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12 month low of $249.70 and a 12 month high of $346.85. The company has a market capitalization of $171.48 billion, a P/E ratio of 45.67, a P/E/G ratio of 2.98 and a beta of 0.61.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. Amgen’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.00 EPS. As a group, equities analysts expect that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $9.00 annualized dividend and a dividend yield of 2.82%. Amgen’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMGN shares. Wells Fargo & Company cut Amgen from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $320.00 to $335.00 in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Cantor Fitzgerald began coverage on shares of Amgen in a research note on Friday, September 27th. They issued an “overweight” rating and a $405.00 target price on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 target price (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and an average target price of $325.55.

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.