Dividend Assets Capital LLC Raises Stake in Amgen Inc. (NASDAQ:AMGN)

Dividend Assets Capital LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 19.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 38,402 shares of the medical research company’s stock after purchasing an additional 6,284 shares during the quarter. Amgen accounts for 2.3% of Dividend Assets Capital LLC’s portfolio, making the stock its 13th biggest position. Dividend Assets Capital LLC’s holdings in Amgen were worth $11,964,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in Amgen in the fourth quarter worth $25,000. Pinney & Scofield Inc. purchased a new stake in shares of Amgen during the fourth quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in shares of Amgen during the fourth quarter valued at $34,000. Finally, Atala Financial Inc purchased a new position in Amgen in the fourth quarter worth about $34,000. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

NASDAQ:AMGN opened at $289.98 on Tuesday. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock’s 50 day simple moving average is $281.26 and its two-hundred day simple moving average is $285.36. The company has a market cap of $155.92 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the company posted $3.96 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMGN. Piper Sandler dropped their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Cantor Fitzgerald started coverage on Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price objective on the stock. Royal Bank of Canada lowered their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Guggenheim started coverage on Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective on the stock. Finally, UBS Group reaffirmed a “neutral” rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Amgen presently has an average rating of “Hold” and an average price target of $309.22.

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.