4,827 Shares in Amgen Inc. (NASDAQ:AMGN) Acquired by Pacific Point Advisors LLC

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

A number of other large investors also recently modified their holdings of the company. Capital World Investors increased its stake in Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. Norges Bank purchased a new position in Amgen in the 4th quarter worth approximately $1,541,991,000. Capital International Investors increased its stake in Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after purchasing an additional 3,495,503 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Amgen in the 4th quarter worth approximately $401,913,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on AMGN. Bank of America lifted their price target on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Citigroup reissued a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Guggenheim began coverage on Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Two 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, Amgen currently has an average rating of "Hold" and a consensus price target of $309.22.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $7.80 during trading on Tuesday, hitting $279.46. 2,916,834 shares of the company's stock were exchanged, compared to its average volume of 3,124,713. The business's 50-day simple moving average is $285.94 and its 200 day simple moving average is $285.86. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The company has a market cap of $150.27 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.63 and a beta of 0.51. 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 (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.96 earnings per share. As a group, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's payout ratio is 86.86%.

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.