Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 36.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,498 shares of the medical research company's stock after acquiring an additional 2,264 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Amgen were worth $2,215,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new stake in Amgen during the 4th quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Amgen by 66.2% during 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 buying an additional 51 shares during the period. Synergy Investment Management LLC purchased a new position in shares of Amgen during the fourth quarter valued at $34,000. Atala Financial Inc bought a new stake in shares of Amgen in the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in Amgen in the fourth quarter worth about $36,000. Institutional investors own 76.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Piper Sandler cut their price objective on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Mizuho upped their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Amgen has an average rating of "Hold" and an average target price of $309.22.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $5.29 during midday trading on Tuesday, reaching $276.95. The company had a trading volume of 822,343 shares, compared to its average volume of 2,788,200. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The business's 50-day simple moving average is $285.94 and its 200 day simple moving average is $285.86. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock has a market cap of $148.92 billion, a P/E ratio of 36.68, a P/E/G ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping 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 quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 16th will be issued a dividend of $2.38 per share. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, May 16th. Amgen's dividend payout ratio (DPR) 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.