Harbor Investment Advisory LLC Has $6.52 Million Position in Amgen Inc. (NASDAQ:AMGN)

Harbor Investment Advisory LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,009 shares of the medical research company’s stock after purchasing an additional 697 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Amgen were worth $6,518,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Amgen in the 3rd quarter valued at about $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the third quarter worth about $29,000. Hershey Financial Advisers LLC acquired a new stake in Amgen in the 2nd quarter valued at approximately $30,000. Matrix Trust Co bought a new stake in Amgen in the 3rd quarter valued at approximately $36,000. Finally, Livelsberger Financial Advisory acquired a new position in Amgen during the 3rd quarter worth approximately $56,000. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of a number of research reports. 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. UBS Group cut their price target on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Leerink Partners decreased their price objective on Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft dropped their target price on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Finally, Redburn Partners decreased their price target on Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $314.91.

Amgen Stock Up 1.0 %

AMGN stock opened at $272.11 on Tuesday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The stock has a market capitalization of $146.27 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 2.68 and a beta of 0.56. The business’s fifty day moving average price is $273.95 and its two-hundred day moving average price is $307.18.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the firm earned $4.96 earnings per share. On average, equities analysts anticipate that Amgen Inc. will post 19.57 earnings per share for the current year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 14th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.50%. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s dividend payout ratio is currently 121.90%.

Amgen Company 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.