Legacy CG LLC Has $6.38 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Legacy CG LLC grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 63.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,152 shares of the medical research company’s stock after purchasing an additional 8,581 shares during the period. Amgen makes up 2.4% of Legacy CG LLC’s portfolio, making the stock its 12th biggest position. Legacy CG LLC’s holdings in Amgen were worth $6,380,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AMGN. Vanguard Group Inc. boosted its position in Amgen by 0.3% during the third quarter. Vanguard Group Inc. now owns 49,035,981 shares of the medical research company’s stock valued at $13,178,910,000 after purchasing an additional 165,636 shares during the last quarter. Morgan Stanley grew its stake in shares of Amgen by 12.9% in the 4th quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock valued at $3,493,471,000 after buying an additional 1,523,665 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Amgen by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,819,690 shares of the medical research company’s stock worth $2,132,778,000 after buying an additional 94,565 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Amgen by 83,875.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after purchasing an additional 7,532,031 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Amgen by 3.8% in the 3rd quarter. Northern Trust Corp now owns 6,977,625 shares of the medical research company’s stock valued at $1,875,306,000 after purchasing an additional 255,463 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. SVB Leerink cut Amgen from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. Morgan Stanley decreased their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. UBS Group dropped their price target on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a research report on Monday, January 29th. Leerink Partnrs lowered shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $329.00 target price on shares of Amgen in a research report on Wednesday, April 3rd. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $295.30.

Amgen Price Performance

AMGN traded down $2.30 during midday trading on Monday, reaching $264.98. 972,248 shares of the company’s stock were exchanged, compared to its average volume of 2,872,374. 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 business has a 50-day simple moving average of $280.76 and a two-hundred day simple moving average of $281.55. The firm has a market capitalization of $142.01 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 2.53 and a beta of 0.58. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The business had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter last year, the company earned $4.09 EPS. Amgen’s revenue was up 19.8% on a year-over-year basis. As a group, research analysts predict that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio (DPR) is currently 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.