Steele Capital Management Inc. Takes $297,000 Position in Amgen Inc. (NASDAQ:AMGN)

Steele Capital Management Inc. acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,031 shares of the medical research company’s stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FAS Wealth Partners Inc. acquired a new stake in Amgen in the third quarter valued at approximately $576,000. TriaGen Wealth Management LLC purchased a new position in shares of Amgen in the third quarter worth $214,000. Sweet Financial Partners LLC raised its holdings in shares of Amgen by 1.8% in the third quarter. Sweet Financial Partners LLC now owns 13,135 shares of the medical research company’s stock worth $3,530,000 after buying an additional 235 shares during the last quarter. First Bancorp Inc ME purchased a new position in shares of Amgen in the third quarter worth $204,000. Finally, Toews Corp ADV purchased a new position in shares of Amgen in the third quarter worth $779,000. 76.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on AMGN. Oppenheimer reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Amgen in a report on Thursday, February 1st. SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $324.00 to $318.00 in a report on Wednesday, February 7th. Royal Bank of Canada reissued an “outperform” rating and set a $329.00 target price on shares of Amgen in a report on Wednesday, April 3rd. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. Finally, UBS Group reduced their target price on shares of Amgen from $314.00 to $284.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus price target of $297.40.

Amgen Price Performance

AMGN traded down $2.14 on Tuesday, reaching $274.24. 358,109 shares of the company’s stock were exchanged, compared to its average volume of 2,790,949. The stock has a market cap of $147.10 billion, a PE ratio of 22.04, a P/E/G ratio of 2.61 and a beta of 0.58. Amgen Inc. has a twelve month low of $211.71 and a twelve month high of $329.72. The stock’s fifty day moving average price is $274.96 and its 200-day moving average price is $281.45. 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 (NASDAQ:AMGN) last posted its quarterly earnings results 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 firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.13 billion. Amgen had a net margin of 23.83% and a return on equity of 154.27%. Amgen’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.09 earnings per share. Sell-side analysts expect that Amgen Inc. will post 19.43 EPS for the current year.

Amgen Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders 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 3.28%. The ex-dividend date is Thursday, May 16th. Amgen’s payout ratio is presently 72.06%.

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.