Onyx Bridge Wealth Group LLC Makes New $393,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Onyx Bridge Wealth Group LLC bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) in the fourth quarter, Holdings Channel.com reports. The fund bought 1,363 shares of the medical research company’s stock, valued at approximately $393,000.

Other large investors have also recently made changes to their positions in the company. Briaud Financial Planning Inc purchased a new stake in shares of Amgen during the third quarter valued at $26,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Amgen in the fourth quarter valued at about $29,000. OFI Invest Asset Management bought a new stake in shares of Amgen in the third quarter valued at about $26,000. Planned Solutions Inc. bought a new stake in shares of Amgen in the fourth quarter valued at about $30,000. Finally, Providence Capital Advisors LLC bought a new stake in shares of Amgen in the third quarter valued at about $30,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent research reports. Leerink Partnrs downgraded Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. StockNews.com downgraded Amgen from a “buy” rating to a “hold” rating in a report on Thursday, March 28th. TD Cowen decreased their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday. Morgan Stanley decreased their price objective on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a report on Wednesday, February 7th. Finally, SVB Leerink downgraded shares of Amgen from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $296.95.

Amgen Stock Up 2.4 %

Shares of AMGN traded up $6.18 during mid-day trading on Friday, hitting $268.93. 3,380,330 shares of the company traded hands, compared to its average volume of 2,077,465. The business has a 50 day moving average of $276.90 and a 200 day moving average of $281.26. The company has a market capitalization of $144.25 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 2.44 and a beta of 0.58. Amgen Inc. has a 1-year low of $211.71 and a 1-year high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. Amgen’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.09 earnings per share. Equities research analysts anticipate that Amgen Inc. will post 19.45 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 $2.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $9.00 dividend on an annualized basis and a yield of 3.35%. Amgen’s dividend payout ratio is currently 72.06%.

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.