Accelerate Investment Advisors LLC Acquires 385 Shares of Amgen Inc. (NASDAQ:AMGN)

Accelerate Investment Advisors LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 46.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,213 shares of the medical research company’s stock after buying an additional 385 shares during the quarter. Accelerate Investment Advisors LLC’s holdings in Amgen were worth $316,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in AMGN. Swiss National Bank grew its position in Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after acquiring an additional 5,500 shares during the last quarter. Asset Advisors Investment Management LLC increased its position in shares of Amgen by 9.0% in the third quarter. Asset Advisors Investment Management LLC now owns 35,934 shares of the medical research company’s stock valued at $11,578,000 after acquiring an additional 2,954 shares during the period. Principal Financial Group Inc. raised its position in Amgen by 6.0% during the 3rd quarter. Principal Financial Group Inc. now owns 635,172 shares of the medical research company’s stock valued at $204,659,000 after purchasing an additional 35,785 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Amgen by 3.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its stake in Amgen by 40.1% in the third quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock worth $2,433,000 after buying an additional 2,163 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of AMGN traded up $6.54 on Monday, reaching $268.77. 1,575,550 shares of the stock traded hands, compared to its average volume of 2,833,259. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm has a market cap of $144.47 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 2.91 and a beta of 0.56. 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’s 50-day moving average price is $279.10 and its 200-day moving average price is $308.66.

Amgen (NASDAQ:AMGN) last posted 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 firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the company posted $4.96 EPS. Equities analysts forecast that Amgen Inc. will post 19.53 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. Shareholders of record on Friday, February 14th will be paid a $2.38 dividend. The ex-dividend date is Friday, February 14th. This represents a $9.52 dividend on an annualized basis and a yield of 3.54%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is presently 121.90%.

Analyst Ratings Changes

Several analysts recently weighed in on AMGN shares. Piper Sandler Companies restated an “overweight” rating and issued a $310.00 price target on shares of Amgen in a research note on Thursday, January 2nd. Leerink Partners reduced their price objective on Amgen from $349.00 to $302.00 in a research report on Wednesday, November 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. Redburn Partners lowered their target price on shares of Amgen from $200.00 to $195.00 in a research note on Wednesday, November 27th. Finally, StockNews.com lowered Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Two research 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 MarketBeat, the stock has an average rating of “Hold” and an average target price of $314.91.

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.