Voloridge Investment Management LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Voloridge Investment Management LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 393,636 shares of the medical research company's stock, valued at approximately $102,597,000. Voloridge Investment Management LLC owned about 0.07% of Amgen as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital World Investors increased its holdings in Amgen by 1,292.0% during the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after buying an additional 6,029,058 shares during the last quarter. Norges Bank acquired a new position in Amgen during the fourth quarter worth $1,541,991,000. Capital International Investors increased its holdings in Amgen by 40.1% during the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after buying an additional 3,495,503 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 worth $3,441,909,000 after buying an additional 2,672,975 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Amgen during the fourth quarter worth $401,913,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AMGN shares. Cantor Fitzgerald started coverage on shares of Amgen in a report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 target price on the stock. Johnson Rice set a $294.00 target price on shares of Amgen in a report on Wednesday, March 5th. Piper Sandler reduced their price objective on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research report on Friday. Citigroup reiterated a "neutral" rating on shares of Amgen in a report on Wednesday, February 5th. Finally, Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Amgen has an average rating of "Hold" and an average price target of $310.18.

Amgen Stock Up 1.3%

AMGN stock opened at $275.85 on Tuesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The business has a 50-day simple moving average of $290.27 and a 200 day simple moving average of $287.56. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a market cap of $148.33 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

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

Amgen Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date is Friday, May 16th. This represents a $9.52 annualized dividend and a yield of 3.45%. Amgen's dividend payout ratio is currently 86.86%.

Insiders Place Their Bets

In other Amgen news, EVP David M. Reese sold 25,225 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $304.44, for a total transaction of $7,679,499.00. Following the completion of the transaction, the executive vice president now owns 36,922 shares of the company's stock, valued at approximately $11,240,533.68. The trade was a 40.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.76% of the company's stock.

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.

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