First Affirmative Financial Network boosted its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,467 shares of the medical research company’s stock after purchasing an additional 291 shares during the period. First Affirmative Financial Network’s holdings in Amgen were worth $904,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in AMGN. Capital Performance Advisors LLP acquired a new stake in Amgen during the 3rd quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new position in shares of Amgen during the third quarter valued at $29,000. Matrix Trust Co acquired a new position in shares of Amgen during the third quarter worth $36,000. Livelsberger Financial Advisory bought a new stake in shares of Amgen in the third quarter worth $56,000. Finally, Icon Wealth Advisors LLC increased its holdings in Amgen by 3,955.0% in the third quarter. Icon Wealth Advisors LLC now owns 174,040 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 169,748 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
AMGN has been the topic of a number of analyst reports. TD Cowen upped their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. StockNews.com downgraded shares of Amgen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective on shares of Amgen in a research note on Tuesday, November 12th. Finally, UBS Group lowered their target price on shares of Amgen from $335.00 to $326.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $314.00.
Amgen Stock Performance
Shares of AMGN opened at $281.68 on Thursday. The stock has a 50 day moving average of $271.48 and a 200 day moving average of $305.15. The company has a market capitalization of $151.41 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 2.78 and a beta of 0.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55.
Amgen (NASDAQ:AMGN – Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.11 by $0.47. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the firm posted $4.96 EPS. The business’s revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Amgen Inc. will post 19.56 earnings per share for the current year.
Amgen Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders 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 yield of 3.38%. This is a positive change from Amgen’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, February 14th. Amgen’s dividend payout ratio is 115.24%.
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.
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