Meeder Asset Management Inc. Buys 62,589 Shares of Amgen Inc. (NASDAQ:AMGN)

Meeder Asset Management Inc. boosted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 3,095.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,611 shares of the medical research company's stock after purchasing an additional 62,589 shares during the period. Amgen accounts for approximately 1.4% of Meeder Asset Management Inc.'s portfolio, making the stock its 15th biggest position. Meeder Asset Management Inc.'s holdings in Amgen were worth $18,609,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AMGN. Meeder Advisory Services Inc. raised its holdings in Amgen by 5.1% in the 4th quarter. Meeder Advisory Services Inc. now owns 9,503 shares of the medical research company's stock valued at $2,737,000 after acquiring an additional 459 shares in the last quarter. Equitable Trust Co. increased its stake in shares of Amgen by 477.2% in the fourth quarter. Equitable Trust Co. now owns 12,173 shares of the medical research company's stock valued at $3,506,000 after buying an additional 10,064 shares in the last quarter. Americana Partners LLC increased its position in Amgen by 58.9% in the fourth quarter. Americana Partners LLC now owns 12,104 shares of the medical research company's stock worth $3,489,000 after purchasing an additional 4,488 shares during the period. Wakefield Asset Management LLLP increased its position in Amgen by 48.8% in the fourth quarter. Wakefield Asset Management LLLP now owns 1,625 shares of the medical research company's stock worth $468,000 after purchasing an additional 533 shares during the period. Finally, Wallington Asset Management LLC increased its position in Amgen by 1.2% in the fourth quarter. Wallington Asset Management LLC now owns 39,944 shares of the medical research company's stock worth $11,505,000 after purchasing an additional 455 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $1.86 during midday trading on Friday, hitting $269.95. The stock had a trading volume of 2,293,783 shares, compared to its average volume of 2,585,271. The company's 50-day moving average price is $285.70 and its 200-day moving average price is $281.54. The company has a market capitalization of $144.67 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 2.55 and a beta of 0.58. Amgen Inc. has a fifty-two week low of $211.71 and a fifty-two week high of $329.72. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 10.14.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The business had revenue of $8.20 billion during the quarter, compared to analysts' expectations of $8.13 billion. During the same period in the prior year, the company earned $4.09 EPS. The firm's quarterly revenue was up 19.8% compared to the same quarter last year. As a group, equities research analysts predict that Amgen Inc. will post 19.48 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Thursday, May 16th. Amgen's payout ratio is 72.06%.

Wall Street Analyst Weigh In

AMGN has been the subject of a number of research reports. Oppenheimer reiterated an "outperform" rating and issued a $350.00 price objective on shares of Amgen in a research report on Thursday, February 1st. The Goldman Sachs Group raised their target price on Amgen from $313.00 to $350.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th. BMO Capital Markets upgraded Amgen from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $286.00 to $326.00 in a report on Tuesday, December 19th. Daiwa Capital Markets upgraded Amgen from a "neutral" rating to a "buy" rating and raised their target price for the stock from $264.00 to $320.00 in a report on Thursday, December 21st. Finally, UBS Group reduced their target price on Amgen from $315.00 to $314.00 and set a "neutral" rating on the stock in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Amgen has a consensus rating of "Hold" and an average price target of $295.30.

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.