Pacific Point Advisors LLC Acquires Shares of 4,827 Amgen Inc. (NASDAQ:AMGN)

Pacific Point Advisors LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,827 shares of the medical research company's stock, valued at approximately $1,395,000. Amgen accounts for about 0.9% of Pacific Point Advisors LLC's portfolio, making the stock its 20th largest holding.

Several other institutional investors also recently made changes to their positions in the stock. Centricity Wealth Management LLC acquired a new stake in Amgen in the fourth quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE grew 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 worth $33,000 after acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new position in shares of Amgen during the fourth quarter worth about $34,000. Atala Financial Inc acquired a new stake in shares of Amgen in the 4th quarter worth about $34,000. Finally, Heck Capital Advisors LLC bought a new stake in Amgen in the 4th quarter valued at about $36,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AMGN shares. Royal Bank of Canada dropped their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. UBS Group restated a "neutral" rating and issued a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Cantor Fitzgerald initiated coverage on shares of Amgen in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price objective on the stock. Finally, Mizuho upped their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $309.22.

Amgen Trading Up 0.3%

Shares of Amgen stock traded up $0.95 during trading on Wednesday, hitting $280.40. The stock had a trading volume of 1,122,350 shares, compared to its average volume of 2,789,963. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a market capitalization of $150.77 billion, a PE ratio of 37.15, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The stock has a 50 day simple moving average of $285.23 and a 200 day simple moving average of $285.81.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same period in the previous year, the company posted $3.96 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio is currently 86.86%.

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.