Dividend Assets Capital LLC Buys 6,284 Shares of Amgen Inc. (NASDAQ:AMGN)

Dividend Assets Capital LLC raised its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 19.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,402 shares of the medical research company's stock after acquiring an additional 6,284 shares during the quarter. Amgen makes up approximately 2.3% of Dividend Assets Capital LLC's investment portfolio, making the stock its 13th largest position. Dividend Assets Capital LLC's holdings in Amgen were worth $11,964,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMGN. Tallon Kerry Patrick acquired a new position in shares of Amgen during the fourth quarter worth $270,000. Brighton Jones LLC raised its position in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares during the last quarter. WCM Investment Management LLC lifted its holdings in Amgen by 182.2% during the 4th quarter. WCM Investment Management LLC now owns 20,544 shares of the medical research company's stock worth $5,327,000 after buying an additional 13,263 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Amgen in the 4th quarter valued at about $102,000. Finally, OMC Financial Services LTD acquired a new stake in shares of Amgen in the fourth quarter valued at about $730,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Cantor Fitzgerald started coverage on shares of Amgen in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price objective on the stock. Mizuho increased their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Bank of America boosted their target price on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $309.22.

Amgen Stock Up 1.2%

Shares of NASDAQ AMGN traded up $3.45 during midday trading on Tuesday, hitting $293.43. 2,441,018 shares of the stock traded hands, compared to its average volume of 2,808,700. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The business has a 50 day moving average price of $281.26 and a two-hundred day moving average price of $285.36. The company has a market cap of $157.78 billion, a PE ratio of 38.86, a P/E/G ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the firm posted $3.96 EPS. Amgen's revenue was up 9.4% compared to the same quarter last year. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were 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 in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.76% of the company's stock.

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.