Coastal Bridge Advisors LLC Has $809,000 Stake in Amgen Inc. (NASDAQ:AMGN)

Coastal Bridge Advisors LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 1.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,321 shares of the medical research company’s stock after buying an additional 50 shares during the period. Coastal Bridge Advisors LLC’s holdings in Amgen were worth $809,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in AMGN. MONECO Advisors LLC acquired a new stake in shares of Amgen during the second quarter worth about $212,000. Wintrust Investments LLC grew its holdings in shares of Amgen by 2.6% during the second quarter. Wintrust Investments LLC now owns 7,509 shares of the medical research company’s stock worth $1,830,000 after buying an additional 188 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Amgen by 0.7% during the second quarter. Brighton Jones LLC now owns 21,671 shares of the medical research company’s stock worth $5,282,000 after buying an additional 147 shares in the last quarter. Isthmus Partners LLC bought a new position in shares of Amgen during the second quarter worth about $195,000. Finally, CapWealth Advisors LLC grew its holdings in shares of Amgen by 3.0% during the second quarter. CapWealth Advisors LLC now owns 49,942 shares of the medical research company’s stock worth $12,173,000 after buying an additional 1,471 shares in the last quarter. 74.73% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ AMGN traded up $3.68 during midday trading on Wednesday, hitting $219.72. The company had a trading volume of 85,399 shares, compared to its average volume of 2,587,297. The company has a market capitalization of $124.77 billion, a PE ratio of 22.23, a P/E/G ratio of 1.55 and a beta of 0.68. The company has a current ratio of 1.31, a quick ratio of 1.03 and a debt-to-equity ratio of 3.45. The firm has a 50-day moving average price of $232.74 and a 200-day moving average price of $240.06. Amgen Inc. has a twelve month low of $210.28 and a twelve month high of $276.69.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Monday, August 2nd. The medical research company reported $4.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.09 by $0.29. The firm had revenue of $6.53 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Amgen had a return on equity of 99.85% and a net margin of 22.55%. On average, equities analysts anticipate that Amgen Inc. will post 16.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 8th. Stockholders of record on Tuesday, August 17th were paid a $1.76 dividend. The ex-dividend date was Monday, August 16th. This represents a $7.04 annualized dividend and a dividend yield of 3.20%. Amgen’s payout ratio is 42.41%.

A number of research analysts recently issued reports on AMGN shares. Oppenheimer increased their price objective on Amgen from $272.00 to $277.00 and gave the stock an “outperform” rating in a report on Monday, June 7th. BMO Capital Markets raised their price target on Amgen from $296.00 to $301.00 and gave the company an “outperform” rating in a research note on Monday, May 31st. SVB Leerink decreased their price target on Amgen from $238.00 to $234.00 and set a “market perform” rating for the company in a research note on Wednesday, August 4th. Mizuho assumed coverage on Amgen in a research note on Friday, September 10th. They issued a “hold” rating and a $222.00 price target for the company. Finally, Zacks Investment Research upgraded Amgen from a “sell” rating to a “hold” rating and set a $255.00 target price for the company in a research note on Tuesday, June 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $249.70.

About Amgen

Amgen, Inc is a biotechnology company, which engages in the discovery, development, manufacture and marketing of human therapeutics. Its products include the following brands: Aranesp, Aimovig, KANJINTI, EVENITY, AMGEVITA, AVSOLA, BLINCYTO, MVASI, Corlanor, Enbrel, EPOGEN, IMLYGIC, Kyprolis, Neulasta, NEUPOGEN, Nplate, Parsabiv, Prolia, Repatha, Sensipar, Vectibix, Otezla, RIABNI, and XGEVA.

Further Reading: Understanding Market Liquidity

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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