Coastal Bridge Advisors LLC Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Coastal Bridge Advisors LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,896 shares of the medical research company’s stock after buying an additional 302 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in Amgen were worth $1,530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Strategic Financial Concepts LLC acquired a new stake in Amgen in the second quarter valued at approximately $26,000. Horizon Financial Services LLC purchased a new position in Amgen during the 1st quarter worth $28,000. United Community Bank acquired a new position in Amgen during the 4th quarter valued at about $29,000. nVerses Capital LLC acquired a new position in Amgen during the 2nd quarter valued at about $31,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in Amgen in the second quarter valued at about $33,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMGN shares. Robert W. Baird restated an “underperform” rating and set a $215.00 price target on shares of Amgen in a research note on Wednesday. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Bank of America raised their price target on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, Oppenheimer restated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.55.

Amgen Trading Up 1.1 %

Shares of Amgen stock opened at $322.67 on Friday. The firm has a 50-day simple moving average of $328.77 and a two-hundred day simple moving average of $307.54. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. Amgen Inc. has a fifty-two week low of $249.70 and a fifty-two week high of $346.85. The company has a market cap of $173.09 billion, a P/E ratio of 46.10, a price-to-earnings-growth ratio of 2.98 and a beta of 0.61.

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

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.79%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is presently 128.57%.

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.