Syntegra Private Wealth Group LLC Raises Stake in Amgen Inc. (NASDAQ:AMGN)

Syntegra Private Wealth Group LLC grew its position in Amgen Inc. (NASDAQ:AMGN) by 4.7% in the first quarter, HoldingsChannel.com reports. The firm owned 1,223 shares of the medical research company’s stock after acquiring an additional 55 shares during the period. Syntegra Private Wealth Group LLC’s holdings in Amgen were worth $381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinney & Scofield Inc. purchased a new position in shares of Amgen during the 4th quarter valued at $26,000. First Pacific Financial raised its holdings in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 67 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 51 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Amgen in the fourth quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC boosted its stake in shares of Amgen by 46.9% in the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company’s stock worth $37,000 after acquiring an additional 45 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.69% of the stock is owned by insiders.

Amgen Trading Up 1.7%

Shares of AMGN stock opened at $301.94 on Tuesday. The company has a market cap of $162.36 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 2.57 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $339.17. The stock’s 50 day simple moving average is $292.64 and its two-hundred day simple moving average is $292.40. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $2.38 dividend. The ex-dividend date is Friday, August 22nd. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. Amgen’s dividend payout ratio (DPR) is currently 86.86%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AMGN shares. Bank of America lifted their target price on Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research note on Wednesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 price objective on shares of Amgen in a report on Tuesday, June 24th. Royal Bank Of Canada reduced their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, UBS Group raised their target price on shares of Amgen from $315.00 to $326.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Amgen has a consensus rating of “Hold” and a consensus target price of $307.27.

About Amgen

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.