Genesee Capital Advisors LLC Invests $1.02 Million in Amgen Inc. (NASDAQ:AMGN)

Genesee Capital Advisors LLC bought a new position in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,525 shares of the medical research company’s stock, valued at approximately $1,015,000.

Other institutional investors also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. raised its position in Amgen by 1.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock valued at $3,133,000 after buying an additional 193 shares during the period. Diversified Trust Co increased its holdings in shares of Amgen by 76.8% during the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock worth $10,857,000 after purchasing an additional 16,376 shares during the period. Nicolet Advisory Services LLC lifted its position in Amgen by 4.4% in the third quarter. Nicolet Advisory Services LLC now owns 2,805 shares of the medical research company’s stock worth $745,000 after purchasing an additional 117 shares during the period. Platform Technology Partners lifted its holdings in shares of Amgen by 7.4% during the 3rd quarter. Platform Technology Partners now owns 5,830 shares of the medical research company’s stock worth $1,567,000 after acquiring an additional 402 shares during the period. Finally, Traynor Capital Management Inc. boosted its holdings in Amgen by 9.5% during the fourth quarter. Traynor Capital Management Inc. now owns 18,941 shares of the medical research company’s stock valued at $5,455,000 after purchasing an additional 1,650 shares in the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Up 1.3 %

AMGN stock traded up $3.55 on Thursday, reaching $270.00. 2,169,632 shares of the company traded hands, compared to its average volume of 2,910,597. The company has a debt-to-equity ratio of 10.14, a current ratio of 1.65 and a quick ratio of 1.13. The firm has a fifty day simple moving average of $281.88 and a 200-day simple moving average of $281.38. Amgen Inc. has a one year low of $211.71 and a one year high of $329.72. The company has a market cap of $144.70 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.54 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, February 6th. The medical research company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter last year, the company posted $4.09 earnings per share. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. Research analysts anticipate that Amgen Inc. will post 19.48 earnings per share for the current year.

Amgen Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. BMO Capital Markets raised shares of Amgen from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $286.00 to $326.00 in a report on Tuesday, December 19th. Daiwa Capital Markets upgraded shares of Amgen from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $264.00 to $320.00 in a research note on Thursday, December 21st. Morgan Stanley dropped their target price on Amgen from $281.00 to $278.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 7th. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price target on shares of Amgen in a research report on Thursday, February 1st. Finally, Leerink Partnrs downgraded shares of Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $295.30.

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.