West Paces Advisors Inc. Boosts Position in Amgen Inc. (NASDAQ:AMGN)

West Paces Advisors Inc. increased its position in Amgen Inc. (NASDAQ:AMGN) by 41.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,819 shares of the medical research company’s stock after acquiring an additional 534 shares during the quarter. West Paces Advisors Inc.’s holdings in Amgen were worth $524,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of Amgen in the third quarter worth $26,000. Briaud Financial Planning Inc purchased a new position in Amgen during the third quarter worth about $26,000. Strategic Investment Solutions Inc. IL purchased a new position in Amgen during the first quarter worth about $28,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Amgen in the 4th quarter valued at about $29,000. Finally, Providence Capital Advisors LLC purchased a new stake in shares of Amgen in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of recent analyst reports. UBS Group lowered their target price on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Truist Financial restated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research report on Friday. Daiwa Capital Markets raised Amgen from a “neutral” rating to a “buy” rating and increased their target price for the company from $264.00 to $320.00 in a research note on Thursday, December 21st. Raymond James assumed coverage on Amgen in a research note on Thursday, March 28th. They set a “market perform” rating for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amgen presently has an average rating of “Hold” and an average target price of $295.30.

Amgen Trading Up 0.0 %

NASDAQ:AMGN traded up $0.13 during mid-day trading on Tuesday, reaching $265.64. 2,011,346 shares of the company’s stock traded hands, compared to its average volume of 2,871,636. The company has a 50 day moving average price of $279.63 and a 200-day moving average price of $281.52. The firm has a market capitalization of $142.36 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.53 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. Amgen Inc. has a 12-month low of $211.71 and a 12-month high of $329.72.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.05. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the previous year, the firm earned $4.09 earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. On average, sell-side analysts predict that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 17th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s dividend payout ratio is currently 72.06%.

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.