1,031 Shares in Amgen Inc. (NASDAQ:AMGN) Acquired by InvesTrust

InvesTrust acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, Holdings Channel reports. The fund acquired 1,031 shares of the medical research company’s stock, valued at approximately $267,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Amgen during the third quarter worth $25,000. Strategic Financial Concepts LLC purchased a new position in shares of Amgen during the 2nd quarter worth $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Amgen during the 3rd quarter valued at about $29,000. Hershey Financial Advisers LLC purchased a new stake in shares of Amgen in the second quarter valued at about $30,000. Finally, Matrix Trust Co purchased a new position in Amgen during the third quarter worth about $36,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent research reports. Robert W. Baird reissued an “underperform” rating and issued a $215.00 price target on shares of Amgen in a research report on Wednesday, September 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Bank of America reissued an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a research report on Tuesday, December 10th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, Leerink Partners dropped their target price on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $317.30.

Amgen Price Performance

Shares of AMGN stock traded up $0.73 during midday trading on Wednesday, reaching $262.79. 1,051,681 shares of the company traded hands, compared to its average volume of 2,837,700. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a market cap of $141.26 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 2.91 and a beta of 0.56. The firm’s 50 day simple moving average is $282.38 and its two-hundred day simple moving average is $309.78. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

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

Amgen Increases Dividend

The business 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. This is an increase from Amgen’s previous quarterly dividend of $2.25. This represents a $9.52 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Friday, February 14th. Amgen’s dividend payout ratio is currently 121.90%.

Amgen Profile

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.