DCF Advisers LLC Buys 1,000 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• DCF Advisers LLC increased its stake in Amgen Inc. by 17.2%, owning 6,825 shares valued at approximately $2.13 million as of the latest quarter.
• Amgen recently reported $4.90 EPS for the quarter, exceeding analyst expectations of $4.18, with a 9.4% year-over-year revenue growth of $8.15 billion.
• The company announced a quarterly dividend of $2.38 per share, representing an annualized yield of 3.2% and a payout ratio of 86.86%.

DCF Advisers LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 17.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,825 shares of the medical research company's stock after buying an additional 1,000 shares during the quarter. DCF Advisers LLC's holdings in Amgen were worth $2,126,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new position in Amgen during the fourth quarter worth approximately $26,000. First Pacific Financial lifted its position in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE raised its position in Amgen by 66.2% in 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 purchasing an additional 51 shares during the period. Heck Capital Advisors LLC purchased a new stake in Amgen in the fourth quarter valued at $36,000. Finally, Legacy Investment Solutions LLC raised its position in Amgen by 46.9% in the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock valued at $37,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Stock Down 0.5%

Amgen stock traded down $1.61 during mid-day trading on Tuesday, hitting $300.33. 405,735 shares of the company's stock were exchanged, compared to its average volume of 2,887,677. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The stock has a 50 day moving average of $292.64 and a two-hundred day moving average of $292.40. The stock has a market cap of $161.49 billion, a P/E ratio of 27.35, a P/E/G ratio of 2.57 and a beta of 0.49.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be given a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, August 22nd. Amgen's dividend payout ratio is presently 86.86%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMGN. Citigroup lifted their price objective on Amgen from $300.00 to $305.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Piper Sandler reissued an "overweight" rating and set a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. Finally, UBS Group upped their price target on Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $307.27.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by insiders.

Amgen 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.