New England Asset Management Inc. increased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,345 shares of the medical research company's stock after acquiring an additional 1,085 shares during the quarter. New England Asset Management Inc.'s holdings in Amgen were worth $5,042,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Talbot Financial LLC lifted its position in Amgen by 5.6% during the fourth quarter. Talbot Financial LLC now owns 42,791 shares of the medical research company's stock valued at $11,153,000 after purchasing an additional 2,274 shares during the last quarter. Ascent Wealth Partners LLC lifted its position in Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock valued at $2,352,000 after purchasing an additional 64 shares during the last quarter. ICICI Prudential Asset Management Co Ltd lifted its position in Amgen by 242.2% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock valued at $6,255,000 after purchasing an additional 16,985 shares during the last quarter. PFW Advisors LLC bought a new position in Amgen during the fourth quarter valued at $1,105,000. Finally, Fisher Asset Management LLC raised its stake in shares of Amgen by 285.4% in the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock valued at $102,820,000 after acquiring an additional 292,137 shares during the period. Institutional investors own 76.50% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research note on Wednesday, March 5th. StockNews.com downgraded shares of Amgen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 10th. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Citigroup reissued a "neutral" rating on shares of Amgen in a research note on Wednesday, February 5th. Finally, Piper Sandler reduced their target price on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $310.18.
Get Our Latest Stock Report on Amgen
Amgen Stock Up 0.3%
NASDAQ AMGN traded up $0.72 during trading on Friday, reaching $272.41. 2,588,369 shares of the company's stock traded hands, compared to its average volume of 2,789,152. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market cap of $146.48 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company's 50 day simple moving average is $291.93 and its two-hundred day simple moving average is $288.58. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.
Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.96 EPS. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.
Amgen Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 16th will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, May 16th. Amgen's payout ratio is currently 86.86%.
Insider Transactions at Amgen
In other news, EVP David M. Reese sold 25,225 shares of Amgen stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the transaction, the executive vice president now owns 36,922 shares of the company's stock, valued at $11,240,533.68. The trade was a 40.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company's stock.
Amgen Profile
(
Free Report)
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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