Bridgewealth Advisory Group LLC Makes New $417,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Bridgewealth Advisory Group LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,598 shares of the medical research company’s stock, valued at approximately $417,000.

Several other institutional investors have also recently added to or reduced their stakes in AMGN. Centricity Wealth Management LLC purchased a new stake in shares of Amgen during the fourth quarter worth approximately $25,000. Ritter Daniher Financial Advisory LLC DE raised its position in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC acquired a new stake in shares of Amgen in the 4th quarter worth $34,000. Atala Financial Inc purchased a new stake in shares of Amgen in the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Amgen during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 17th. Wells Fargo & Company reissued an “equal weight” rating on shares of Amgen in a report on Wednesday, February 5th. Bank of America lifted their price target on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research note on Wednesday, March 5th. Truist Financial reduced their target price on Amgen from $333.00 to $298.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald assumed coverage on shares of Amgen in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $310.57.

Amgen Price Performance

NASDAQ:AMGN opened at $288.56 on Wednesday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm has a market cap of $155.14 billion, a price-to-earnings ratio of 38.22, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. The company’s 50-day moving average is $301.10 and its two-hundred day moving average is $292.08. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (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%. Research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio (DPR) is 126.09%.

Insider Activity at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the business’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 of the company’s stock, valued at $8,496,669.44. The trade was a 46.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at $2,195,228.70. This trade represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,341 shares of company stock worth $20,644,335. 0.69% of the stock is currently owned by insiders.

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.