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Forum Financial Management LP Has $91.95 Million Position in Amgen Inc. (NASDAQ:AMGN)

Amgen logo with Medical background

Forum Financial Management LP grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 352,784 shares of the medical research company's stock after buying an additional 2,411 shares during the period. Amgen comprises 1.5% of Forum Financial Management LP's portfolio, making the stock its 11th largest position. Forum Financial Management LP owned 0.07% of Amgen worth $91,950,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMGN. Norges Bank bought a new stake in shares of Amgen during the 4th quarter worth about $1,541,991,000. Capital International Investors grew its holdings in shares of Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after acquiring an additional 3,495,503 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Amgen in the 4th quarter valued at $401,913,000. Finally, Franklin Resources Inc. increased its stake in Amgen by 52.7% in the 4th quarter. Franklin Resources Inc. now owns 3,291,975 shares of the medical research company's stock worth $858,020,000 after purchasing an additional 1,135,884 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Stock Up 2.9%

Amgen stock traded up $7.79 during mid-day trading on Tuesday, hitting $279.45. 2,917,043 shares of the company's stock were exchanged, compared to its average volume of 2,796,420. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The stock has a 50 day moving average of $285.94 and a two-hundred day moving average of $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 $150.26 billion, a P/E ratio of 37.01, a P/E/G ratio of 2.63 and a beta of 0.51.

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

Amgen Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, May 16th. Amgen's payout ratio is 86.86%.

Analyst Ratings Changes

A number of research firms have commented on AMGN. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Citigroup reaffirmed a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. 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 research note on Wednesday, March 5th. Royal Bank of Canada reduced their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $309.22.

Check Out Our Latest Stock Analysis on Amgen

About Amgen

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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