Yoffe Investment Management LLC Buys Shares of 1,406 Amgen Inc. (NASDAQ:AMGN)

Yoffe Investment Management LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,406 shares of the medical research company's stock, valued at approximately $366,000.

Several other large investors also recently modified their holdings of AMGN. Grassi Investment Management boosted its holdings in Amgen by 4.5% in the 4th quarter. Grassi Investment Management now owns 4,600 shares of the medical research company's stock worth $1,199,000 after buying an additional 200 shares during the period. Tallon Kerry Patrick purchased a new stake in Amgen in the 4th quarter worth about $270,000. Brighton Jones LLC grew its stake in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in Amgen by 8.1% in the 4th quarter. Cornerstone Wealth Management LLC now owns 2,453 shares of the medical research company's stock worth $639,000 after acquiring an additional 183 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Amgen by 24.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,445 shares of the medical research company's stock valued at $1,940,000 after acquiring an additional 1,464 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMGN. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Johnson Rice set a $294.00 price objective on shares of Amgen in a research note on Wednesday, March 5th. Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Bank of America lifted their target price on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $309.22.

Amgen Stock Performance

Shares of Amgen stock traded up $3.48 during trading hours on Friday, hitting $287.02. 5,437,576 shares of the company's stock traded hands, compared to its average volume of 2,813,486. The company has a fifty day simple moving average of $283.46 and a 200-day simple moving average of $285.42. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock has a market capitalization of $154.33 billion, a price-to-earnings ratio of 38.02, 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 (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate 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 last year, the company posted $3.96 EPS. Equities research 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. Investors of record on Friday, May 16th will be issued a $2.38 dividend. This represents a $9.52 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, May 16th. Amgen's payout ratio is currently 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.