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

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.

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.