Breakwater Capital Group Invests $266,000 in Amgen Inc. (NASDAQ:AMGN)

Breakwater Capital Group purchased a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,020 shares of the medical research company’s stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp boosted its position in shares of Amgen by 1.2% during the 3rd quarter. State Street Corp now owns 29,317,018 shares of the medical research company’s stock worth $9,446,236,000 after purchasing an additional 345,537 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Amgen by 0.9% in the third quarter. Geode Capital Management LLC now owns 12,122,889 shares of the medical research company’s stock valued at $3,893,771,000 after purchasing an additional 103,851 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Amgen by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 10,532,629 shares of the medical research company’s stock worth $3,393,718,000 after buying an additional 251,876 shares in the last quarter. Janus Henderson Group PLC grew its position in Amgen by 11.7% during the third quarter. Janus Henderson Group PLC now owns 5,143,330 shares of the medical research company’s stock worth $1,657,183,000 after buying an additional 538,545 shares during the period. Finally, Pathway Financial Advisers LLC increased its holdings in Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN stock opened at $267.10 on Wednesday. The firm has a market capitalization of $143.58 billion, a price-to-earnings ratio of 34.20, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The company has a 50 day moving average price of $277.12 and a 200 day moving average price of $308.03. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.96 EPS. Sell-side analysts anticipate that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be given a $2.38 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 annualized dividend and a dividend yield of 3.56%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is presently 121.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AMGN shares. UBS Group decreased their price target on Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Barclays lifted their price objective on Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Bank of America reissued an “underperform” rating and issued a $256.00 target price on shares of Amgen in a report on Tuesday, December 10th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Finally, StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $314.91.

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.