BTC Capital Management Inc. Purchases 378 Shares of Amgen Inc. (NASDAQ:AMGN)

BTC Capital Management Inc. raised its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 6.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,190 shares of the medical research company’s stock after acquiring an additional 378 shares during the period. BTC Capital Management Inc.’s holdings in Amgen were worth $1,613,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. Capital Performance Advisors LLP purchased a new position in Amgen in the third quarter worth about $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen in the third quarter worth about $29,000. Matrix Trust Co purchased a new position in shares of Amgen during the 3rd quarter valued at about $36,000. Livelsberger Financial Advisory purchased a new stake in shares of Amgen in the third quarter worth $56,000. Finally, Icon Wealth Advisors LLC increased its stake in Amgen by 3,955.0% in the 3rd quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock worth $56,000 after buying an additional 169,748 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wolfe Research assumed coverage on Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $380.00 target price on shares of Amgen in a report on Tuesday, November 12th. Citigroup cut their target price on shares of Amgen from $310.00 to $295.00 and set a “neutral” rating for the company in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Finally, Leerink Partners cut their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $314.00.

Amgen Trading Up 0.8 %

Shares of Amgen stock opened at $284.02 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The firm’s 50-day moving average price is $271.24 and its 200 day moving average price is $304.84. The firm has a market capitalization of $152.67 billion, a PE ratio of 36.37, a P/E/G ratio of 2.85 and a beta of 0.56. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.96 EPS. On average, sell-side analysts predict that Amgen Inc. will post 19.56 EPS for the current fiscal year.

Amgen Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be issued a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, February 14th. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is currently 115.24%.

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.