Oakworth Capital Inc. Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Oakworth Capital Inc. grew its position in Amgen Inc. (NASDAQ:AMGN) by 101.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,445 shares of the medical research company’s stock after acquiring an additional 728 shares during the quarter. Oakworth Capital Inc.’s holdings in Amgen were worth $416,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Amgen in the 3rd quarter valued at about $26,000. Briaud Financial Planning Inc purchased a new stake in shares of Amgen in the third quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Amgen in the first quarter valued at approximately $28,000. BOK Financial Private Wealth Inc. purchased a new position in Amgen during the fourth quarter worth approximately $29,000. Finally, Providence Capital Advisors LLC acquired a new position in Amgen during the third quarter worth $30,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Price Performance

Shares of AMGN opened at $264.07 on Thursday. The company has a market cap of $141.52 billion, a P/E ratio of 21.14, a PEG ratio of 2.47 and a beta of 0.58. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14. The firm’s 50 day moving average price is $277.99 and its 200 day moving average price is $281.37.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.05. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. Amgen had a return on equity of 154.27% and a net margin of 23.83%. The company’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.09 earnings per share. On average, research analysts forecast that Amgen Inc. will post 19.46 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen’s payout ratio is presently 72.06%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley cut their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $324.00 to $318.00 in a research report on Wednesday, February 7th. UBS Group decreased their target price on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating on the stock in a report on Wednesday. Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $329.00 price objective on shares of Amgen in a report on Wednesday, April 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Amgen currently has an average rating of “Moderate Buy” and an average price target of $296.95.

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.