Linscomb Wealth Inc. Has $11.84 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Linscomb Wealth Inc. has increased its holdings in Amgen by 11.9%, owning 37,993 shares valued at approximately $11.84 million at the end of the first quarter.
• Analysts remain cautiously optimistic about Amgen, with a consensus rating of "Hold" and an average price target of $303.76, although several firms adjusted their price objectives recently.
• Amgen declared a quarterly dividend of $2.38 per share, reflecting a 3.3% yield and indicating a payout ratio of 77.84%.

Linscomb Wealth Inc. grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 11.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,993 shares of the medical research company's stock after purchasing an additional 4,050 shares during the quarter. Linscomb Wealth Inc.'s holdings in Amgen were worth $11,837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Amgen in the fourth quarter worth $17,996,000. Jaffetilchin Investment Partners LLC grew its holdings in Amgen by 81.2% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 3,960 shares of the medical research company's stock valued at $1,032,000 after purchasing an additional 1,775 shares in the last quarter. Petros Family Wealth LLC bought a new position in Amgen during the 4th quarter valued at $854,000. Finally, Nicolet Bankshares Inc. boosted its stake in Amgen by 6.7% during the 4th quarter. Nicolet Bankshares Inc. now owns 1,327 shares of the medical research company's stock valued at $346,000 after acquiring an additional 83 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.69% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several recent research reports. Bank of America lifted their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research report on Wednesday, July 23rd. Mizuho lifted their price objective 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. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Wall Street Zen cut shares of Amgen from a "buy" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $303.76.

Amgen Stock Down 0.0%

Shares of NASDAQ AMGN traded down $0.11 during trading hours on Tuesday, hitting $284.98. The company had a trading volume of 2,189,061 shares, compared to its average volume of 2,092,668. The stock has a market capitalization of $153.42 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 2.46 and a beta of 0.49. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 7.24. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $339.17. The firm's 50 day moving average is $293.16 and its 200-day moving average is $292.88.

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

Amgen Dividend Announcement

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

Amgen Company Profile

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.