Neo Ivy Capital Management Makes New $360,000 Investment in Amgen Inc. (NASDAQ:AMGN)

Neo Ivy Capital Management purchased a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,383 shares of the medical research company's stock, valued at approximately $360,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock worth $13,741,409,000 after purchasing an additional 339,522 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Amgen by 25.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company's stock worth $3,441,909,000 after purchasing an additional 2,672,975 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Amgen by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock worth $3,245,881,000 after purchasing an additional 352,143 shares in the last quarter. Capital International Investors raised its stake in shares of Amgen by 40.1% during 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 purchasing an additional 3,495,503 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AMGN shares. Royal Bank of Canada reduced their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company reiterated an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Cantor Fitzgerald started coverage on Amgen in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 target price for the company. Finally, Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $309.22.

Amgen Price Performance

Shares of NASDAQ AMGN traded up $3.81 during trading on Thursday, hitting $282.21. 913,334 shares of the company were exchanged, compared to its average volume of 2,794,056. The company has a market cap of $151.75 billion, a price-to-earnings ratio of 37.35, a PEG ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm's fifty day moving average price is $284.48 and its 200 day moving average price is $285.76.

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 business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.96 EPS. On average, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's dividend payout ratio is presently 86.86%.

Amgen 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.