Quantinno Capital Management LP Buys 3,735 Shares of Amgen Inc. (NASDAQ:AMGN)

Quantinno Capital Management LP raised its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,980 shares of the medical research company's stock after purchasing an additional 3,735 shares during the period. Quantinno Capital Management LP's holdings in Amgen were worth $35,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Centricity Wealth Management LLC bought a new position in Amgen during the fourth quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE grew its holdings in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Synergy Investment Management LLC purchased a new stake in Amgen in the 4th quarter worth about $34,000. Atala Financial Inc bought a new stake in Amgen in the fourth quarter worth about $34,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Amgen during the fourth quarter valued at approximately $36,000. 76.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AMGN shares. Cantor Fitzgerald initiated coverage on Amgen in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price target on the stock. Mizuho lifted their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Piper Sandler upped their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Bank of America raised their price target on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada lowered their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $310.23.

Amgen Stock Down 1.6%

NASDAQ:AMGN opened at $270.45 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a market cap of $145.42 billion, a PE ratio of 35.82, a P/E/G ratio of 2.63 and a beta of 0.51. The company's 50 day moving average is $294.29 and its two-hundred day moving average is $289.08.

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 company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. Analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a yield of 3.52%. The ex-dividend date is Friday, May 16th. Amgen's payout ratio is 86.86%.

Insider Activity

In other Amgen news, EVP David M. Reese sold 25,225 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $304.44, for a total value of $7,679,499.00. Following the completion of the transaction, the executive vice president now directly 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 SEC, which can be accessed through this link. Insiders own 0.76% of the company's stock.

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.

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