Edgestream Partners L.P. Takes Position in Amgen Inc. (NASDAQ:AMGN)

Edgestream Partners L.P. purchased a new position in Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, HoldingsChannel reports. The fund purchased 37,432 shares of the medical research company’s stock, valued at approximately $9,756,000. Amgen makes up about 0.4% of Edgestream Partners L.P.’s portfolio, making the stock its 14th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in AMGN. State Street Corp increased its position in shares of Amgen by 1.2% in the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Amgen by 25.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC increased its holdings in Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after buying an additional 103,851 shares during the last quarter. Janus Henderson Group PLC raised its stake in Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock valued at $1,657,183,000 after buying an additional 538,545 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Amgen by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,442,543 shares of the medical research company’s stock worth $1,431,432,000 after buying an additional 264,396 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 1,589 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $304.47, for a total value of $483,802.83. Following the sale, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. The trade was a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David M. Reese sold 8,711 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $293.22, for a total transaction of $2,554,239.42. Following the transaction, the executive vice president now owns 62,147 shares of the company’s stock, valued at approximately $18,222,743.34. This trade represents a 12.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last 90 days. 0.69% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Citigroup reiterated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. UBS Group restated a “hold” rating on shares of Amgen in a research report on Wednesday, February 12th. Wolfe Research started coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $314.95.

Amgen Stock Performance

Shares of AMGN opened at $317.82 on Friday. The firm has a market capitalization of $170.73 billion, a PE ratio of 42.10, a P/E/G ratio of 2.63 and a beta of 0.56. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a 50-day moving average price of $284.89 and a 200 day moving average price of $299.91. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last posted 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%. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, May 16th. Amgen’s dividend payout ratio is presently 126.09%.

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.