Clearbridge Investments LLC Has $835 Million Stake in Amgen, Inc. (NASDAQ:AMGN)

Clearbridge Investments LLC raised its stake in Amgen, Inc. (NASDAQ:AMGN) by 151.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,118,757 shares of the medical research company’s stock after acquiring an additional 2,478,922 shares during the period. Amgen comprises about 0.9% of Clearbridge Investments LLC’s investment portfolio, making the stock its 24th largest position. Clearbridge Investments LLC owned 0.70% of Amgen worth $834,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in AMGN. Wealth Quarterback LLC bought a new stake in Amgen in the fourth quarter valued at $3,116,210,000. Norges Bank bought a new stake in shares of Amgen during the fourth quarter worth $1,515,191,000. Capital Research Global Investors grew its holdings in shares of Amgen by 5.2% during the fourth quarter. Capital Research Global Investors now owns 35,337,639 shares of the medical research company’s stock worth $8,518,844,000 after purchasing an additional 1,743,084 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of Amgen by 298.8% during the first quarter. APG Asset Management N.V. now owns 1,741,626 shares of the medical research company’s stock worth $294,673,000 after purchasing an additional 1,304,921 shares during the last quarter. Finally, Advisor Group Holdings Inc. bought a new stake in shares of Amgen during the first quarter worth $38,885,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Shares of NASDAQ AMGN traded up $1.56 during mid-day trading on Tuesday, reaching $235.75. 1,800,084 shares of the company’s stock were exchanged, compared to its average volume of 3,061,846. The firm has a market capitalization of $140.41 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.04 and a beta of 0.94. The company has a current ratio of 1.59, a quick ratio of 1.28 and a debt-to-equity ratio of 3.16. The business has a fifty day simple moving average of $229.22 and a 200 day simple moving average of $225.31. Amgen, Inc. has a twelve month low of $173.12 and a twelve month high of $244.99.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.17 EPS for the quarter, topping the Zacks’ consensus estimate of $3.70 by $0.47. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.01 billion. Amgen had a return on equity of 90.75% and a net margin of 32.03%. Amgen’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.56 earnings per share. Equities research analysts predict that Amgen, Inc. will post 15.56 earnings per share for the current fiscal year.

Several analysts have recently commented on the company. Morgan Stanley increased their target price on Amgen from $267.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their target price on Amgen from $219.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. ValuEngine cut Amgen from a “hold” rating to a “sell” rating in a report on Tuesday, May 26th. Bank of America increased their target price on Amgen from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, BMO Capital Markets upped their price target on Amgen from $274.00 to $291.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $245.85.

In other news, Director Ronald D. Sugar sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $233.35, for a total transaction of $233,350.00. Following the sale, the director now owns 15,636 shares of the company’s stock, valued at $3,648,660.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R Sanders Williams sold 425 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $237.31, for a total value of $100,856.75. Following the transaction, the director now owns 5,834 shares of the company’s stock, valued at $1,384,466.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,425 shares of company stock worth $792,017. 0.36% of the stock is currently owned by insiders.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

Further Reading: Technical Analysis

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen, Inc. (NASDAQ:AMGN).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.