Fairtree Asset Management Pty Ltd Invests $586,000 in Amgen Inc. (NASDAQ:AMGN)

Fairtree Asset Management Pty Ltd acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,250 shares of the medical research company's stock, valued at approximately $586,000.

Other hedge funds also recently made changes to their positions in the company. Ascent Wealth Partners LLC lifted its holdings in shares of Amgen by 0.7% during the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock worth $2,352,000 after acquiring an additional 64 shares during the last quarter. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Amgen by 242.2% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock worth $6,255,000 after acquiring an additional 16,985 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Amgen by 285.4% during the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock worth $102,820,000 after acquiring an additional 292,137 shares during the last quarter. Aire Advisors LLC lifted its holdings in shares of Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock worth $3,461,000 after acquiring an additional 2,762 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Amgen during the 4th quarter worth $3,531,000. 76.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on AMGN shares. 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 target for the company. Johnson Rice set a $294.00 price target on shares of Amgen in a research note on Wednesday, March 5th. Mizuho boosted 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. UBS Group reissued a "neutral" rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Finally, Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $309.22.

Amgen Trading Up 1.2%

Shares of NASDAQ AMGN traded up $3.48 during midday trading on Friday, hitting $287.02. 5,437,576 shares of the company traded hands, compared to its average volume of 2,813,503. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a 50-day moving average price of $283.86 and a 200 day moving average price of $285.50. The firm has a market cap of $154.33 billion, a P/E ratio of 38.02, a P/E/G ratio of 2.63 and a beta of 0.51.

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

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio (DPR) is presently 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.