Fayez Sarofim & Co Has $10.57 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Fayez Sarofim & Co increased its stake in Amgen Inc. by 3.4%, owning 33,933 shares valued at approximately $10.57 million following the additional purchase of 1,116 shares in the first quarter.
• Amgen recently announced a quarterly dividend of $2.38 per share, which provides a 3.3% dividend yield and reflects a payout ratio of 77.84%.
• In its latest earnings report, Amgen posted an EPS of $6.02, surpassing estimates by $0.74, and reported a revenue of $9.18 billion, showing a 9.4% year-over-year growth.

Fayez Sarofim & Co raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,933 shares of the medical research company's stock after purchasing an additional 1,116 shares during the quarter. Fayez Sarofim & Co's holdings in Amgen were worth $10,572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Beck Mack & Oliver LLC lifted its position in shares of Amgen by 0.7% in the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock worth $1,205,000 after purchasing an additional 34 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock worth $1,343,000 after purchasing an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC boosted its holdings in Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after purchasing an additional 35 shares during the last quarter. Affinity Capital Advisors LLC boosted its holdings in Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after purchasing an additional 37 shares during the last quarter. Finally, Accredited Investors Inc. boosted its holdings in Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Performance

Shares of AMGN traded up $3.53 during midday trading on Friday, reaching $288.23. 1,802,960 shares of the stock were exchanged, compared to its average volume of 2,050,777. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $339.17. The company has a quick ratio of 0.88, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. The company has a market cap of $155.17 billion, a P/E ratio of 23.57, a PEG ratio of 2.44 and a beta of 0.49. The stock's 50 day simple moving average is $293.23 and its 200 day simple moving average is $292.57.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The medical research company reported $6.02 earnings per share for the quarter, topping analysts' consensus estimates of $5.28 by $0.74. Amgen had a return on equity of 174.71% and a net margin of 18.96%. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the firm earned $4.97 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 22nd. Amgen's payout ratio is 77.84%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Amgen from $330.00 to $333.00 and gave the company an "equal weight" rating in a research note on Wednesday. Citigroup raised their target price on shares of Amgen from $305.00 to $310.00 and gave the company a "neutral" rating in a research note on Wednesday. Mizuho raised their target price on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Royal Bank Of Canada decreased their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Amgen has an average rating of "Hold" and a consensus target price of $303.76.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was 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. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is currently owned by company insiders.

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.